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 40 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
YES! Correct, THANKS for helping me on my review

mohan

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th
Price of Computers, 1982–2010 Price of Computers, 1982–2010
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ... Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ...
Video: Splitting of Sugar, Oxidation/ Reduction & ATP Generation

For a complete list of videos, visit our video library