Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
An individual must choose between two business opportunities. If he invests in A, he will make $20 if the economy is expanding, $10 if it is stagnant, and lose $8 if it is contracting. If he invests in B, he will make $10 if the economy is expanding, break even if is stagnant, and make $15 if it is contracting.
a. What choice should he make using the maximin criteria? Briefly explain.
b. What choice should he make using the minimax regret criteria? Briefly explain.
c. What choice should he make using the maximax criteria?
d. What choice should he make using the equal probability criteria?
You arrange for a legal document to be written. You believe there is a 50% prior probability that the document is correctly written. You then go to 10 lawyers, the probability of seeing an expert lawyer is the same as the probability of seeing a novi..
“A subsidy may provide import-competing producers the same degree of protection as tariffs or quotas but at a lower cost in terms of national welfare.” Discuss – in what sense is this statement correct? In what sense might it not be correct?
What would happen to world welfare if the U.S. paid exporters a subsidy of $5 for every pair of blue jeans they sold to Canada, but Canada charged a $5 countervailing duty on every pair imported into Canada?
Madison has 5 times the marginal utility of consumption as Seth. If the government wants to achieve maximum societal happiness, should it transfer wealth from Seth to Madison?
Graph out this situation using a single supply and demand diagram representing one firm. Label the initial equilibrium price and quantity (P 1 , Q 1 ); Then demand increases, creating an excess demand. The firm can either respond by increasing price ..
Indicate whether the following events would cause an? "increase or a decrease in demand or an? "increase or a decrease in the quantity demanded?" for? cable-based Internet access? service, which is a normal good.
explain how changes in equilibrium occur as a result of changes in fiscal and monetary policy.
After a boat rescues everyone else from Gilligan's Island, the Professor and Gilligan remain behind, afraid of getting shipwrecked again with the same bunch of people. The Professor grows coconuts and catches fish. Last year he harvested 1000 coconut..
Suppose a monopolist has cost curve C(q) = 10 + 3q + 0.1q 2 and faces demand q = 12 ? p. Find the monopolist price and quantity. Return to the situation in (a) with only one market. What would be the monopolist profit?
suppose a firm has an annual budget of 100000 in wages and salaries 50000 in materials 20000 in new equipment 10000 in
The Potomac Range Corporation manufactures a line of microwave ovens costing $500 each. Its sales have averaged about 6,000 units per month during the past year. What is the arc cross elasticity of demand between Potomac's oven and the competitive Sp..
Suppose two soft -drink bottling companies employ drivers whose job it is deliver cases of drinks to stores, restaurants, and businesses. One company pays its drivers an hourly wage and the other pays them by the number of cases delivered each day (w..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd