An apple farmer must decide how many apples to harvest for the world apple market. He knows that there is a one-third probability that the world price will be $1, a one-third probability that it will be $1.50, and a one-third probability that it will be $2. His cost function is C(Q) = 0.01Q2. The expected profit-maximizing quantity is:

Strong property rights are important for modern economic growth because:

they allow governments to extract the gains from private citizens' investments. B. people are more likely to invest if they don't fear that others can take their returns on investment without compensation. C. they ensure an equitable distribution of income. D. business cycle fluctuations will be smaller and less likely to disrupt investment patterns.

The purchase of less than 10 percent of the shares of ownership in a foreign company is referred to as a

A. foreign direct investment. B. negligible investment. C. foreign indirect investment. D. portfolio investment.