This topic contains a solution. Click here to go to the answer

Author Question: Jason is a Web page designer. He estimates that this summer, he has a 0.6 probability of making ... (Read 80 times)

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
Jason is a Web page designer. He estimates that this summer, he has a 0.6 probability of making 10,000 and a 0.4 probability of making only 2,000. What is Jason's expected income this summer?
 
  A) 12,000
  B) 6,800
  C) 6,000
  D) 10,000

Question 2

Oscar and Felix are the only firms that clean offices in a large city. They agree to operate as a cartel. The payoff matrix above gives the economic profit that each firm can make.
 
  If Felix cheats on the agreement but Oscar complies, Felix makes an economic profit of ________ and Oscar makes an economic profit of ________. A) 10 million; 10 million
  B) 1 million; 1 million
  C) -2 million; 12 million
  D) 12 million; -2 million



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jordin Calloway

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

B

Answer to Question 2

D




WhattoUnderstand

  • Member
  • Posts: 517
Reply 2 on: Jun 29, 2018
Gracias!


Liddy

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

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

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

For a complete list of videos, visit our video library