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Author Question: ________ is maximized in a competitive market when marginal benefit equals marginal cost. A) ... (Read 140 times)

lak

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on: Jun 29, 2018
________ is maximized in a competitive market when marginal benefit equals marginal cost.
 
  A) Selling price B) Deadweight loss C) Marginal profit D) Economic surplus

Question 2

What is meant by expected value? How is it calculated?
 
  What will be an ideal response?


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shaquita

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

An expected value is the average value of an event. Expected value is equal to the sum of all possible outcomes or values, each weighted by its probability of occurring.


lak

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Dominic

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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