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Author Question: Suppose the government imposes a 1 tax on frisbees, and the price of a frisbee paid by demanders ... (Read 93 times)

oliviahorn72

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on: Jun 29, 2018
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


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briezy

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

A

Answer to Question 2

C


oliviahorn72

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

xiaomengxian

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

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