Refer to the table below. What is the probability of selling less than 22 cakes?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) 0.10
B) 0.60
C) 0.40
D) 0.20
C) 0.40
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In the latter half of the 1990s, the Department of Housing and Urban Development imposed regulations on Fannie Mae and Freddie Mac, requiring them to
a. extend more mortgage loans to households with low and moderate incomes. b. accept only mortgages with at least a 20 percent down payment. c. tighten lending standards and increase their holdings of low-risk, conventional mortgages. d. extend more mortgage loans to households with middle and high incomes.
In perfect competition as well as in monopolistic competition,
a. marginal revenue is equal to price for each firm. b. profit is positive in a long-run equilibrium for each firm. c. entry and exit by firms are restricted. d. there are many firms in a single market.