Five possibilities are equally likely and have payoffs of $2, $4, $6, $8, and $10 . The expected value is:
a. $4
b. $5
c. $6
d. $7
c
You might also like to view...
The two leading countries of origin of U.S. legal immigrants in 2011 were Mexico and:
A. China B. India C. The Dominican Republic D. The Philippines
Consider a world of two countries facing opportunity costs and producing only wheat and cloth. In one hour, residents of Country A can produce a maximum of either 1 unit of wheat or 0.5 unit of cloth,
whereas residents of Country B can produce a maximum of either 0.3 unit of wheat or 0.4 unit of cloth. Country B should export A) wheat and cloth; country A should not export anything. B) wheat and country A should export cloth. C) nothing and country A should export both wheat and cloth. D) cloth and country A should export wheat.
A tax on an imported good is called a ______
Fill in the blank(s) with correct word
If fixed cost is $200,000 and variable cost is $30 per unit over the relevant range of output, when 10,000 units are produced, the average total cost will be:
A. $20. B. $30. C. $50. D. $70.