The expected value of a project is always the
A) median value of the project.
B) modal value of the project.
C) standard deviation of the project.
D) weighted average of the outcomes, with probabilities of the outcomes used as weights.
D
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In theory, in the long run, monopolistically competitive firms earns zero profits. However, in reality there are some ways by which a firm can avoid losing profits. Which of the following is one such way?
A) find a market niche and keep it as narrow as possible so as to prevent other producers from entering this market segment B) gradually increase the mark-up on the goods produced C) identify new markets and develop products precisely for those markets D) lower the price of its products to expand its market share
Monetary policy will be most effective when
A) the IS curve is flat and the LM curve is flat. B) the IS curve is steep and the LM curve is flat. C) the IS curve is flat and the LM curve is steep. D) the IS curve is steep and the LM curve is steep.