Author Question: An increase in demand could arise from which of the following factors a. an increase in income b. a ... (Read 100 times)

jrubin · **on:** Jul 1, 2018

An increase in demand could arise from which of the following factors
a. an increase in income
b. a decrease in the price of a substitute
c. an increase in the price of a complement
d. all of the above

Question 2

Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values 10, 20, 30, and 40 respectively. The expected value is:
a. 22
b. 24
c. 26
d. 28