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

Author Question: Blanca has her choice of either a certain income of 20,000 or a gamble with a 0.5 probability of ... (Read 61 times)

kwoodring

  • Hero Member
  • *****
  • Posts: 560
on: Jul 1, 2018
Blanca has her choice of either a certain income of 20,000 or a gamble with a 0.5 probability of 10,000 and a 0.5 probability of 30,000. The expected value of the gamble:
 
  A) is less than 20,000.
  B) is 20,000.
  C) is greater than 20,000.
  D) cannot be determined with the information provided.

Question 2

Refer to Figure 9.1. If the market is in equilibrium, the consumer surplus earned by the buyer of the 1st unit is ________.
 
  A) 5.00
  B) 15.00
  C) 22.50
  D) 40.00


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ms_sulzle

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


kwoodring

  • Member
  • Posts: 560
Reply 2 on: Jul 1, 2018
Gracias!

Alyson.hiatt@yahoo.com

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
Distribution of the Income of Americans Distribution of the Income of Americans
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
Summary of Common Probability Distributions Summary of Common Probability Distributions
Relationship between Income and Happiness in the United States Relationship between Income and Happiness in the United States
Probability Question Probability Question
Video: Contraction and Relaxation Animation

For a complete list of videos, visit our video library