A bag has 10 green balls, 6 blue balls, and 44 purple balls. A ball is picked randomly from the bag. What is the probability that it is a: a) green ball. b) blue ball. c) purple ball
What will be an ideal response?
a) The probability that the ball picked is a green ball = 10/60 = 0.167 = 16.7%.
b) The probability that the ball picked is a blue ball = 6/60 = 0.1 = 10%.
c) The probability that the ball picked is a purple ball = 44/60 = 0.733 = 73.3%.
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"When a company's depreciation is larger than its gross investment, net investment becomes negative and the firm's capital stock decreases." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?
Consider a downward-sloping demand curve. When the price of an inferior good decreases, the income and substitution effects
A) work in the same direction to increase quantity demanded. B) work in the same direction to decrease quantity demanded. C) work in opposite directions and quantity demanded increases. D) work in opposite directions and quantity demanded decreases.