Refer to the scenario above. What is the probability of winning?
A) 16.66%
B) 33.33%
C) 45.55%
D) 66.66%
B
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We observe a profit-maximizing firm hiring its 75th employee. It is possible to infer that, when 74 employees are hired, the
a. wage exceeds the value of the marginal product of labor. b. value of the marginal product of labor exceeds the wage. c. marginal product of labor is increasing. d. firm is attempting to increase its market share.
The prevalence of Alzheimer's dementia is very high among residents living in nursing homes. A student concludes that it is likely that living in a nursing home causes Alzheimer's dementia. What is the flaw in the student's reasoning?
A) The student has failed to take into account other causes of Alzheimer's disease. B) The student is drawing a false conclusion; he is confusing cause and effect. C) The student is using an inadequate sample size. D) The student is drawing a false conclusion by making the mistake of omitting critical variables such as the age and gender of the residents.