Suppose the government imposes a 1 tax on frisbees, and the price ...

[oliviahorn72]

Suppose the government imposes a 1 tax on frisbees, and the price of a frisbee paid by demanders rises by 1.
 
  A) The price rise is consistent with a perfectly elastic supply for frisbees.
  B) The price rise is consistent with a perfectly elastic demand for frisbees.
  C) The price rise is consistent with a downward-sloping supply curve for frisbees.
  D) The price could never rise this much, so this situation cannot happen.

Question 2

Christy is a telemarketer. She estimates that this summer, she has a 0.2 probability of earning 10,000, a 0.5 probability of earning 5,000, and a 0.3 probability of earning only 1,000. What is Christy's expected income?
 
  A) 7,256
  B) 5,333
  C) 4,800
  D) 4,000

[briezy]

Answer to Question 1

A

Answer to Question 2

C

[oliviahorn72]

Thanks for the timely response, appreciate it

[LVPMS]

Excellent