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Author Question: Define the following terms: a) risky outcome. b) probability. What will be an ideal ... (Read 62 times)

luminitza

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on: Jun 29, 2018
Define the following terms: a) risky outcome. b) probability.
 
  What will be an ideal response?

Question 2

The figure above shows the market for airline tickets. In early 2008 firms negotiated lower wages with their workers. This change is shown in the figure as a shift from
 
  A) D0 to D1.
  B) D1 to D0.
  C) S0 to S1.
  D) S1 to S0.


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frogdreck123456

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

a) An outcome is risky if it is not known with certainty in advance.
b) Probability is the frequency with which an outcome occurs.

Answer to Question 2

C


luminitza

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

meow1234

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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