This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose the government imposes a 1 tax on frisbees, and the price of a frisbee paid by demanders ... (Read 67 times)

oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

briezy

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


oliviahorn72

  • Member
  • Posts: 579
Reply 2 on: Jun 29, 2018
Excellent

Jsherida

  • Member
  • Posts: 314
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
The world attempted to deal with Somalia as if it were a real country but painfully learned that Som The world attempted to deal with Somalia as if it were a real country but painfully learned that Som
Government By the People, 2016 Presidential Election, 26th Edition Government By the People, 2016 Presidential Election, 26th Edition
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Sonja is paid $42.50 per hour as a veterinarian. She is paid 1 times the regular rate for all ... Sonja is paid $42.50 per hour as a veterinarian. She is paid 1 times the regular rate for all ...
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Gas exchange - partial pressure, locations, external and internal respiration

For a complete list of videos, visit our video library