A shift in the supply curve of bicycles resulting from higher steel prices will lead to:
a. higher prices of bicycles
b. lower prices of bicycles.
c. a shift in the demand curve for bicycles.
d. a larger output of bicycles.
a
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Given that milk and cookies are complements, suppose the price of flour (an ingredient in cookies) rises. What happens in the market for cookies?
A) The equilibrium price and quantity rise. B) The equilibrium price rises, and the equilibrium quantity falls. C) The equilibrium price and quantity fall. D) The equilibrium price falls, and the equilibrium quantity rises.
The accompanying table gives the outcomes and probability distribution of the number of times a student checks her e-mail daily:
Probability of Checking E-Mail Outcome (number of e- mail checks) 0 1 2 3 4 5 6 Probability distribution 0.05 0.15 0.30 0.25 0.15 0.08 0.02 Sketch the probability distribution. Next, calculate the c.d.f. for the above table. What is the probability of her checking her e-mail between 1 and 3 times a day? Of checking it more than 3 times a day? What will be an ideal response?