Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values $20, $20, $40, and $40 respectively. The expected value is:

Which of the following is true of equilibrium?

A) Equilibrium refers to a situation where an economic agent can be made better off without making anyone else worse off. B) Equilibrium refers to a situation where the government allocates resources among economic agents. C) Equilibrium refers to a situation where all economic agents are making sub-optimal choices and have an incentive to change behavior. D) Equilibrium refers to a situation where all economic agents simultaneously optimize after considering each other's actions.

The above table shows the short-run total product schedule for the campus book store. What is the average product (AP) of the 4th employee?

A) 58 books sold B) 14.5 books sold C) 18 books sold D) 13.3 books sold