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Expected Value
- The weighted average of payoffs or values resulting from all the possible outcomes.
- An Example
- Success -- stock price increase from $30 to $40/share
- Failure -- stock price decrease from $30 to $20/share
Efficiency of exchange
Why Average Revenue= Marginal Revenue
Why might economic growth not be compatible with sustainable development? Define economic growth; enhance in national income during a time period. Explain sustainable developme
Do the laws of economics still work today? use the case discussed in class to answer this question or any other examples) (ii) Provide examples of three factors that can shift the
Economies of Common Services: Through the concentration of firms in a particular industry in a given geographical location, the firms may enjoy certain commonservices.These
similarities
Modern economy: It explored the role of money in every modern economy.The chapter also revealed that it is necessary for the government to ensure consistency between the quant
Why narrowness of definition of a commodity may influence price elasticity of demand
Rule of Thumb Method Sir Ashby had been requested in 1960 by the Government of Nigeria to submit a report on manpower development in Nigeria. In doing so, in the absence of re
Foreign investment: To attract foreign investment – Developing Plans are used as a means of attracting foreign investment or foreign aid.Foreign government and international o
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