?The formula for "expected value" may be written as
A. ?(Probability of state A + Value in state A) × (Probability of state B + Value in state B)
B. ?(Probability of state A × Value in state A) + (Probability of state B × Value in state B)
C. ?(Probability of state A × Value in state A) – (Probability of state B × Value in state B)
D. ?(Probability of state A – Value in state A) × (Probability of state B – Value in state B)
Answer: ?(Probability of state A × Value in state A) + (Probability of state B × Value in state B)
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A corporation has sold 1,000 shares of stock at a value of $100 each. Bob is a stockholder. If the corporation fails and has $3 million dollars of debt and only $500,000 in assets, what is the most Bob can lose if Bob owns 25 shares of stock?
a. $100 b. $250 c. $1,000 d. $2,500 e. 0
A budget constraint illustrates bundles that a consumer prefers equally, while an indifference curve illustrates bundles that are equally affordable to a consumer
a. True b. False Indicate whether the statement is true or false