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Author Question: Assuming that beer is a normal good, what will happen to the demand for beer near college towns if ... (Read 55 times)

Evvie72

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on: Jul 1, 2018
Assuming that beer is a normal good, what will happen to the demand for beer near college towns if student income increased?
 a. Demand will fall because students love these beers
  b. Demand will fall
 c. Demand will rise
 d. Supply would rise

Question 2

Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values 20, 20, 40, and 40 respectively. The expected value is:
 a. 22
  b. 24
  c. 26
  d. 28


mammy1697

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


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