In order for a taxicab to be operated in New York City, it must ...

[dollx]

In order for a taxicab to be operated in New York City, it must have a medallion on its hood. Medallions are expensive, but can be resold, and are therefore an example of
 
  A) a fixed cost.
  B) a variable cost.
  C) an implicit cost.
  D) an opportunity cost.
  E) a sunk cost.

Question 2

Refer to Table 5.4. If outcomes 1 and 2 are equally likely at Job A, then the standard deviation of payoffs at Job A is
 
  A) 1.
  B) 10.
  C) 40.
  D) 50.
  E) 60.

[kingfahad97]

Answer to Question 1

A

Answer to Question 2

B

[dollx]

Gracias!

[tkempin]

TYSM