Refer to the table below. Busy Betty sells her cakes for $20 each and her constant marginal cost to produce each cake is $12, which is equal to her (constant) average total cost. What is her expected marginal benefit from holding the 21st cake in inventory?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) $6.10
B) $7.20
C) $6.40
D) $8.00
C) $6.40
Economics
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With fixed exchange rates, the adjustment to changes in international monetary conditions comes through
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