Refer to the table below. What is the expected price of the input in Country B?
The above table provides the probability distribution of price of an input next year in Country A and Country B.
A) $1 B) $999 C) $501 D) $500
D) $500
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From 1700-1780, the colonial population increased at a rate of approximately 3 percent per year. This rapid population growth was primarily due to
a. immigration from England. b. immigration from central Europe. c. higher birth rates in the colonies than in Europe. d. importation of slaves from Africa.
A consultant has advised Consolidated Fish, Inc., a perfectly competitive firm, that it should cut back its production in order to increase its profits. We can conclude from this that
A. CF's total costs must be greater than its total revenues. B. CF's marginal cost must be greater than the price of its product. C. fixed costs are not being covered and CF should shut down. D. CF's costs are increasing at a rate less than its revenues.