Variance is a measure of ________ and the lower the variance, ________
A) expected profit; the lower the profit
B) risk; the lower the risk
C) standard deviation; lower the standard deviation
D) risk; the greater the risk
B
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A ten-year-old boy spent his allowance on a soccer ball and a baseball glove. He said he could not be happier buying anything else. The price of the ball was $5, while the price of the glove was $10 . If the marginal utility he received from the ball was 15 utils, then:
a. the marginal utility he received from expenditure on the glove was 3 utils. b. the marginal utility he received from expenditure on the glove was 30 utils. c. the total utility per dollar he received from expenditure on the glove was 3 utils. d. the total utility per dollar he received from expenditure on the glove was 10 utils. e. the marginal utility he received from the expenditure of the glove was 10 utils
A "war on drugs" is waged, and, as a result, a larger quantity of drugs flowing into the United States is seized and more drug traffickers are arrested. If demand for drugs is relatively elastic, one would expect the total expenditure on drugs to: a. decrease
b. increase. c. stay constant. d. There is not enough information available to make a determination.