Refer to the table below. If these are the only four price options for a pound of sugar, what is the expected value the price of a pound of sugar?
The above table provides the possible prices for a pound of sugar next year along with the associated probabilities (in percent).
A) $1.27
B) $1.25
C) $1.30
D) $1.32
A) $1.27
Economics
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Suppose a monopolist chooses to advertise its good and its own demand curve shifts to the right, then we know that
a. the industry's demand curve shifts in precisely the same way b. its competitors share some of the benefits of the advertising c. the monopolist's cost curves will shift to accommodate the shift in demand d. the price of substitute goods will fall e. consumers are turned off by the advertising and buy less at every price
Economics
Refer to the diagram that applies to a private closed economy. The APC is equal to 1 at income level:
A. J.
B. M.
C. H.
D. G.
Economics