In a math class with 21 students, a test was given the same day that an assignment was due. There were 12 students who passed the test and 13 students who completed the assignment. There were 5 students who failed the test and also did not complete the assignment. What is the probability that a student who passed the test completed the homework?
Answers
Answer:12/17
Explanation:Using the formula for conditional probability, we have:
P(B|A) = P(A and B) / P(A)
We can find P(A and B) by noticing that there are 12 students who passed the test and completed the assignment. Therefore:
P(A and B) = 12/21
To find P(A), we need to consider all the students who passed the test, regardless of whether they completed the assignment or not. This includes the 12 students who passed the test and completed the assignment, as well as the 5 students who failed the assignment but did not complete it. Therefore:
P(A) = (12 + 5)/21
Now we can plug these values into the formula for conditional probability:
P(B|A) = (12/21) / ((12 + 5)/21)
Simplifying this expression, we get:
P(B|A) = 12/17
Therefore, the probability that a student who passed the test completed the homework is 12/17.
Answer:
9/12 OR 3/4
Explanation:
Related Questions
What is the meaning of laptop in France
Answers
Answer:
un portable
A laptop = “un portable”. It can be confusing though because many French people use the word “un portable” for their smartphone as well. It should be “un mobile” for the phone, but we use “un portable” as well.
In countries where government officials are neither selected by free elections nor open to criticism by a free press, the lives of citizens are controlled by policies they have had no role in creating. This is why such countries are prone to civil disorder, in spite of the veneer of calm such countries often present to a visitor. When people do not understand the purpose of the restrictions placed on their behavior they have a greater tendency to engage in civil disorder as an expression of their frustration.
Which one of the following is an assumption on which the argument depends?
(A) People who have had a role in making the laws that govern their own behavior act more rationally than those who have not.
(B) A free press is better able to convey to citizens the purpose of government policy than is a press controlled by the government.
(C) Civil disorder cannot be prevented by security forces alone, however great the powers granted them by the government.
(D) People tend not to understand the purpose of restrictions unless they participate in their formulation.
(E) Civil disorder does not generally occur in countries that have either free elections or a free press.
Answers
The assumption on which the argument that "In countries where government officials are neither selected by free elections nor open to criticism by a free press, the lives of citizens are controlled by policies they have had no role in creating .This is why such countries are prone to civil disorder " depends is that People tend not to understand the purpose of restrictions unless they participate in their formulation. The correct answer is option D.
This is because the argument states that "when people do not understand the purpose of the restrictions placed on their behavior they have a greater tendency to engage in civil disorder as an expression of their frustration."
Therefore, it is assumed that people need to participate in the formulation of restrictions in order to understand their purpose and avoid engaging in civil disorder. The correct answer is option D.
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Doctors usually resort to price discrimination by scaling fees to the income of the patients who approach them. Thus the fees charged by the doctors to individual patients are a case of discriminating monopoly in medical profession. This is according as the practice of what the traffic will bear. Doctors tend to justify this policy on the basis of charities. According to Kessel (1985), "if there were mere competition among doctors in the sale of medical services, there would be less discrimination in the pricing of medical services and the charges will be low for the patients". Even though medical practices are currently treated as commercial plus charitable activity, the tendency among the medical practitioners is to adopt a monopolistic competitive market practice rather than discriminating monopoly. Even in certain countries, it has got the features of an oligopoly market. Questions:
A. If doctors follow a perfectly competitive framework in medical profession, what can be the benefit to the society as whole?
B. Is price discrimination beneficial to the society? How far it can be justified in healthcare industry practices?
C. What features of monopolistic competition are found in the medical industry currently? Explain your assessment based on the country in which you reside.
D. Is the market tend to become more and more monopolistic or oligopolistic? Assess your answer in the light of the modern trends in healthcare industry.
E. In the current scenario, the medical profession has become a purely commercial activity targeting towards profit maximization. Comment.
Answers
A. If doctors follow a perfectly competitive framework in the medical profession, the benefit to society as a whole would be that prices for medical services would be lower and more accessible. This would allow those with lower incomes to have access to better medical care and services.
B. Price discrimination can be beneficial to society in some ways. It allows those who have higher incomes to pay for medical services that are not available to those with lower incomes. However, it can be difficult to justify price discrimination in healthcare industry practices as it may lead to unequal access to medical services, which could be unfair.
C. The features of monopolistic competition that are found in the medical industry currently vary depending on the country. For example, in the US, it is generally characterized by a large number of small firms competing against each other and setting prices based on what the market will bear.
D. The market is tending to become more and more monopolistic or oligopolistic. This is due to the increasing consolidation of large healthcare providers and the increasing ability of large firms to set prices and control the market.
E. The medical profession has become more of a purely commercial activity, with an increased focus on profit maximization. This has led to increased competition among healthcare providers, higher prices, and the development of new technologies and treatments. However, it has also caused some ethical concerns about access to medical care for those with lower incomes.
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Consider a perfectly competitive market with a price of $21, where each firm has a cost function of c(q) = 10+q+2/3 q^2
a) Is the market in long-run equilibrium? Explain why or why not. b) What is the value to a firm of a cost-saving process innovation that reduces the cost function to c(q) = 5_0.5q^2? c) Illustrate this innovation graphically using a well-labeled diagram.
Answers
a) No, the market is not in long-run equilibrium. The price of $21 is above the long-run equilibrium price.
What is equilibrium ?Equilibrium is a state in which opposing influences are balanced. It is a state of balance or equalibrium between two or more factors. In economics, equilibrium is when supply and demand meet at a certain price. In physics, equilibrium is when the sum of all forces acting on an object is equal to zero.
b) The value of the cost-saving process innovation to a firm is the difference between the original cost function and the new cost function, which is $10+q+2/3 q^2 - 5+0.5q^2 = $5+1.5q^2. c) The graph below illustrates the original cost function (in blue) and the new cost function (in red).
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Focuses on how individuals interact with one another in society
Answers
The field of study that focuses on how individuals interact with one another in society is sociology.
The field of study that focuses on how individuals interaction with one another in society is sociology. Sociology is the scientific study of human social behavior, relationships, and institutions. It seeks to understand how society is organized, how social institutions function, and how people interact with one another within social structures.
Sociologists study various aspects of society, such as culture, gender, race, social class, inequality, and social change. They use a variety of research methods, including surveys, interviews, observations, and experiments, to gather data and analyze social patterns and behaviors.
Overall, sociology helps us better understand our place in society and how we relate to others, which can be useful for solving social problems and improving people's lives.
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The complete question is :
Which field of study focuses on how individuals interact with one another in society ?
For Costco
5.2- Price Strategy
5.2.1- Current Price Strategy (With Examples)
5.2.2- Recommended Price Strategy
5.4- Place Strategy
5.4.1- Current Place Strategy (With Examples)
5.4.2- Recommended Place Strategy
Answers
Costco is the largest retail chain that offers goods and services in bulk quantities to both business customers and personal customers. The company offers a range of services including groceries, appliances, and consumer electronics, and is also known for its low prices.
Below are the details of Costco's price strategy:
Current Price Strategy: Costco offers products and services at very competitive prices that provide value to the customers. The company’s pricing strategy is based on the concept of selling products in bulk quantities, which offers cost savings for both Costco and its customers. Examples of the current price strategy are as follows:· Lower prices of goods and services· Providing high-quality products· High membership renewal rates
Recommended Price Strategy: Costco should continue its current pricing strategy and focus on offering low prices for bulk quantities of products. This strategy has been successful for Costco, and the company should continue to offer excellent prices to attract and retain customers.
Place strategy is the distribution channel that connects the company's products and services to the customers. Below are the details of Costco's place strategy.
Current Place Strategy: Costco stores are located in many locations around the world. The company's stores are usually located outside of the city, often in industrial parks, which makes the rent cheaper. In addition, the stores are larger and able to provide more space for storage, which makes it easier to store bulk quantities of products. Examples of the current place strategy are as follows:· Costco warehouses are located outside the city, usually in industrial parks· Spacious stores with more storage.
Recommended Place Strategy: Costco should continue to expand its stores and warehouses globally. The company should also consider opening stores in cities to provide more convenience to customers who do not want to travel long distances. In addition, Costco should improve its online platform to make it easier for customers to shop and receive orders.
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You are considering buying a candy-manufacturing machine. The first cost is expected to be
$310,940
, with estimated net revenues of
$40,000
per year over a 15 -year life. After 15 years, the machine will be sold for its salvage value. You speak with the accounting department, and they tell you that the historical average straight-line depreciation rate for that type of equipment is
$20,000
per year. From that information you know that you can calculate the salvage value and the declining balance depreciation rate. If the company's after-tax MARR is
6.5%
and its corporate tax rate is
45%
, what is the annual worth of this project?
Answers
Given that the first cost is expected to be $310,940, estimated net revenues of $40,000 per year over a 15-year life. The company's after-tax MARR is 6.5% and its corporate tax rate is 45%.
The declining balance depreciation rate is given by the formula : Depreciation = Depreciation rate x Beginning book value. At the beginning of the first year, the beginning book value of the equipment is $310,940. So, the depreciation for the first year is $20,000. Depreciation rate= $20,000/$310,940= 0.064314812or 6.43%.
Since the machine will be sold for its salvage value, we can obtain the salvage value by using straight-line depreciation. The annual straight-line depreciation rate is given by: Depreciation Rate= (Purchase Price - Salvage Value)/Useful life.
Given that Useful life is 15 years, Purchase price is $310,940, Historical straight-line depreciation rate is $20,000. Hence, Salvage value = Purchase Price - (Depreciation Rate x Useful life). Salvage value = $310,940 - ($20,000 x 15) = $10,940.
Net revenue = $40,000, Tax rate = 45%, After-tax revenue = (1-Tax rate) * Net revenue= (1-0.45)*$40,000= $22,000. Annual Worth = (P/A, i%, n) = (22,000/A, 6.5%, 15). Annual worth = 22,000/9.2698 = $2371.93. Therefore, the annual worth of this project is $2,371.93.
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which statement is true about temperament? it has only been a topic of study in the last decade; before this, psychologists thought that infants were similar in emotionality. it has only been assessed using cross-sectional methods. it is considered to have a biological basis. it has been defined by the same dimensions and measured the same way by various researchers.
Answers
The statement that is true about temperament is that it is considered to have a biological basis.
Temperament refers to the personality traits that are relatively stable across the lifespan, and it is believed to have a biological basis.
Temperament is considered to be an inherent characteristic of an individual, which is not determined by environmental factors alone. Temperament is believed to have a biological basis, and it can be traced back to an individual's genetic makeup.
Temperament is characterized by four dimensions, which include:
1. Activity level - the level of physical activity that an individual engages in
2. Rhythmicity - the regularity of biological functions such as sleeping and eating
3. Sociability - the level of an individual's interaction with others
4. Emotionality - the individual's response to different emotional stimuli, such as anger or fear
Thus, the statement that is true about temperament is that it is considered to have a biological basis.
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The statement that is true about temperament is "it is considered to have a biological basis."Temperament refers to a person's characteristic behavior patterns, emotional reactions, and attention span that are relatively stable across situations and over time.
It is considered to have a biological basis. Temperament is an inherited personality characteristic that varies among individuals. Temperament can be defined as an individual's natural way of thinking, feeling, and behaving that affects their responses to different environments, people, and events. Temperament is often thought to be innate or genetically determined rather than a learned trait.In the past decade, temperament has been an essential topic of study by psychologists. Before that, psychologists believed that infants had similar emotions. Researchers have defined temperament using various dimensions, and they have measured it differently from one another. Cross-sectional methods are not the only approach used to assess temperament. Temperament can be measured using various methods, including observational and self-report measures.
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How does due process apply to court cases that do not involve a crime—that is, disagreements between people?
A. Both sides are provided with attorneys.
B. Either side can be found guilty.
C. Both sides are entitled to a fair hearing.
D. Either side can issue a warrant.
Answers
Option C is the right response with regard to due process. A fair hearing is owed to both parties.
In this situation, what constitutes a fair legal process?
"Due Process of Law" is a principle that not only determines whether there is a law intended to take away someone's life and personal freedom, but also makes sure that the legislation is fair and just.
What does "due process" of law mean in Indian courts?
The principle of non-arbitrariness was introduced in Union of India (1978), which established the standard for "due process of law." The court declared that no law made to violate someone's right to their life and personal freedom should be arbitrary, unjust, or unreasonable.
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Can someone answer this question
What milestone was achieved during the Choson dynasty?
A) Korean scholars developed their own phonetic alphabet after centuries of using Chinese characters.
B) The Choson dynasty expanded its territory to include parts of China, as far inland as Manchuria.
C) The dynasty established extensive trading networks with the Tang dynasty of China as well as with Japan.
D) The dynasty’s founders set up the first national academy on the Korean Peninsula.
Answers
D) The dynasty’s founders set up the first national academy on the Korean Peninsula.
What took place throughout the Choson Dynasty?1392-1910.Confucianism was accepted as the governing philosophy of a Yi, or Detailed integrated, dynasty (1392–1910), which also withdrew government recognition for Buddhism.Confucianism's traditional virtues and values permeated Korean society and attitudes throughout their rule.
What changes did the Choson Kingdom bring about in medieval Korea?A formidable general named Yi Song-gye formed the Choson Dynasty and took control of Korea in 1392.The foundation of the government is Confucianism.They created the Korean alphabet at this time.
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Complete Discussion 2: The U.S. Economy: Its Strengths and Weaknesses At 1. Describe one element of the U.S. economy's current configuration (a market-based economy with a modest level of government intervention) that you believe is one of its greatest strengths, and explain why you consider this element to be a strength. 2. Describe one element of the U.S. economy's current configuration that you believe is one of its greatest weaknesses, and explain why you consider this element to be a weakness. As with all discussion posts in this course, yoù are expected to complete a responsive original post, as well as post a relevant reply to at least one other student's original post.
Answers
One of the greatest strengths of the US economy's current configuration is its emphasis on a market-based economy. This allows for businesses and individuals to have more autonomy and responsibility in their economic activities and decisions.
This system also encourages competition and innovation, as companies seek to outdo their competitors. It also gives individuals more freedom to make their own economic decisions, rather than having them imposed by the government.
One element of the US economy's current configuration that I believe is one of its greatest weaknesses is its reliance on government intervention.
This can lead to government policies that favor certain businesses or industries, and can also be a source of inefficiency and corruption.
It can also create a lack of competition and a decreased incentive for innovation, which can lead to higher prices and decreased quality for consumers.
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identify the theory that explains human movement as the result of the interaction between three systems: the individual or the organism, the environment, and the task.
Answers
The theory that explains human movement as the result of the interaction between three systems: the individual or the organism, the environment, and the task is known as the Ecological Systems Theory.
This theory, developed by Urie Bronfenbrenner, suggests that human development and behaviour are influenced by the complex interactions between these three systems.
The individual or organism includes factors such as genetics, personality, and physiological processes. The environment includes the physical and social environments in which the individual lives and interacts.
The task includes the specific goals and objectives that the individual is trying to achieve.
By considering the interactions between these three systems, the Ecological Systems Theory provides a comprehensive framework for understanding human movement and behaviour.
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shari is a rather anxious person. since she is so insecure, she frequently seeks out the reassurance of others. on which of the big five characteristics would shari likely score highly?
Answers
Shari is a rather anxious person, and she frequently seeks out the reassurance of others. She is highly likely to score highly on the big five characteristics of neuroticism.
What are the Big Five characteristics?
The Big Five characteristics (also known as the Five-Factor Model) are five traits that some psychologists believe can predict how individuals will respond in various situations. These characteristics, which are commonly referred to as OCEAN, are as follows:O - OpennessC - ConscientiousnessE - ExtraversionA - AgreeablenessN - Neuroticism
What is Neuroticism?
Neuroticism is one of the Big Five Personality Traits. Individuals who score highly on this trait are anxious and tense, easily get stressed out, and are less stable emotionally than those who score low. These people are quick to experience negative emotions, such as fear, anxiety, anger, and vulnerability.
Shari, being an anxious person, frequently seeks out the reassurance of others, which means that she is highly likely to score highly on the big five characteristics of neuroticism.
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Most economists advocate letting individuals make their own judgments if they are sufficiently informed in the case where a community has members with various risk preferences.
Why may this be the most widely held belief in the industry?
How should the bar for being knowledgeable enough be set?
Provide an example of a dangerous good or activity that only directly exposes participants to risk and one that results in an externality that exposes participants to risk.
Describe how the risk analysis assessment could be completed for at least one of these products, and give a case for or against the risk assessment changing due to the presence of an externality.
Answers
The risk analysis assessment is an important tool for economists who advocate letting individuals make their own judgments, particularly when there are various risk preferences among community members.
The assessment allows for the identification of potential risks and the evaluation of their relative severity. It is typically done by considering potential losses, costs, and liabilities associated with a product.
To do a risk analysis assessment for one of these products, it is important to consider all of the potential risks associated with it. This includes the financial risks, such as the costs associated with liability, as well as non-financial risks, such as potential reputational damage.
The risk analysis should also factor in externalities, which are the impacts that the product may have on external parties or on the environment. After considering all of the potential risks associated with the product, the risk assessment should then be evaluated to determine the overall risk.
The presence of externalities can be an important factor when it comes to the risk assessment. If there are externalities associated with the product, the risk assessment should be adjusted to take them into account. For example, if a product causes air pollution, then this should be factored into the risk assessment.
This can help to ensure that the risk assessment is more accurate and that it takes into account any potential externalities.
In conclusion, the risk analysis assessment is an important tool for economists who advocate letting individuals make their own judgments in the presence of various risk preferences. When completing a risk analysis assessment for one of these products, all potential risks should be considered, including externalities.
Doing so can help to ensure that the risk assessment is more accurate and that it takes into account any potential externalities.
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the extent to which one uses a stereotype to judge a member of the stereotyped group, is called ?
Answers
The extent to which one uses a stereotype to judge a member of the stereotyped group is called stereotyping.
Stereotype refers to the act of judging people based on them being a member of a certain group or culture, based on their traits or characteristics. Stereotyping can be positive or negative and can take various forms. This can include gender, nationality, ethnicity, culture, race, and many more.
Stereotyping has a detrimental impact on the people who are stereotyped. It undermines the diversity of cultures and limits people's opportunities. Stereotyping can be harmful and may cause prejudice and discrimination. For instance, a person who is stereotyped may feel stigmatized, marginalized, and discriminated against.
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1. Explain how globalization fueled the financial crises of 2008 2. What was the role played by governments around the world in the crisis, in each case suggest how they would have helped forestall the occurrence of the crisis
Answers
Globalization fueled the financial crisis of 2008 by creating an increasingly interconnected global economy that made it easier for investors to move large sums of capital around the world, which then created a significant increase in global risk.
Governments around the world played a role in the crisis in several ways
This global risk was further magnified by the deregulation of financial markets, which reduced oversight and supervision of global investments.
Governments around the world played a role in the crisis in several ways. Many governments had inadequate oversight of the financial sector, which allowed for high-risk investments and activities to go unchecked.
Governments also allowed for too much liquidity to flow into the economy, leading to excessive speculation in housing and other financial assets. To forestall the occurrence of the crisis, governments should have implemented tighter regulations on financial institutions and monitored global investments more closely.
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What did the founders of Apple and Microsoft develop in the 1970s?
Answers
Today's leaders in the computer sector are still two businesses that were founded in the middle of the 1970s.In 1975, William Gates and Paul Allen, two pals, started Microsoft.
What did Apple develop during that era?The Apple Computer Corporation (now Apple Inc.) first unveiled the 8-bit desktop computer known as the Apple Computer 1 in 1976 under the moniker Apple Computer. It is often referred to as the Apple I or Apple-1. It was created by Steve Wozniak.
What type of computer was created in 1970?The Kenbak-1, which debuted in early 1971, is regarded by the Computer History Museum as the very first personal computer ever produced. John Blankenbaker of the Kenbak Corporation conceptualised and created it in 1970, and the first units went on sale in the beginning of 1971.
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Use the play The Smith and the Little People to answer the question. The Smith and Little People
Which common theme is revealed in the play The Smith and the Little People?
(1 point)
Responses
Appearance can be different from reality. Appearance can be different from reality. It is best to tell the truth. It is best to tell the truth. Everybody makes mistakes. Everybody makes mistakes. Good usually wins over evil. Good usually wins over evil. Help please
Answers
The common theme that is revealed in the play The Smith and the Little People is "Appearance can be different from reality.
This is evident in the play through the character of Smith, who is initially portrayed as a hardworking and honest man, but later reveals his greed and dishonesty when he tries to steal the gold that the Little People have given him.
The play shows that things are not always what they seem, and that appearances can be deceiving.
"Appearance can be different from reality" is a common theme that is found in many works of literature and can refer to situations where things are not always as they seem, and the way something appears on the surface may not reflect the truth or reality of the situation.
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You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table.
Project Boom
(50%)
Recession
(50%)
A $20 -$10
B -$10 $20
C $30 -$30
D $50 $50
Which projects have the greatest variance? Please show work.
A. B
B. A
C. D
D. A and B
E. None of the above
Answers
Option C. D is the correct answer. Variance refers to the degree of spread of possible results of a set of data. For a hotel manager who is considering four projects that yield different payoffs depending on whether there is an economic boom or a recession.
Which projects have the greatest variance?
As mentioned in the question above, the potential payoffs and corresponding payoffs are summarized in the following table:
Project Boom (50%)Recession (50%)A $20 -$10B -$10 $20C $30 -$30D $50 $50
To calculate variance, we must first calculate the expected value of each project. The expected value of a project is determined by the following formula: Expected Value = Probability of Boom * Payoff in Boom + Probability of Recession * Payoff in Recession. For instance, the expected value for Project A is calculated as follows:
Expected Value of Project A = 0.5* $20 + 0.5* -$10 = $5
The expected value for each project is given below:
Expected Value of Project A = $5
Expected Value of Project B = $5
Expected Value of Project C = $0
Expected Value of Project D = $50
To determine the variance, we must determine the difference between the expected value of each project and the payoff in each boom and recession. Then we will square each difference and sum them up to obtain the variance.The variance for each project is given below:
Variance of Project A = (0.5*($20-$5)^2) + (0.5*($-10-$5)^2) = $12.50
Variance of Project B = (0.5*($-10-$5)^2) + (0.5*($20-$5)^2) = $12.50
Variance of Project C = (0.5*($30-$0)^2) + (0.5*($-30-$0)^2) = $900
Variance of Project D = (0.5*($50-$50)^2) + (0.5*($50-$50)^2) = $0
Therefore, projects A and B have the greatest variance with a variance of $12.50, while Project C has a variance of $900, and Project D has a variance of $0. Since the question asks for the projects with the highest variance, the answer is C. D.
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in order to eliminate the problem of a person always agreeing or disagreeing on all items in a questionnaire, a researcher would a) word half the questions in a positive way and half the questions in a negative way. b) instruct participants not to agree or disagree consistently. c) use a more reliable questionnaire. d) none of these
Answers
Answer:
use a more reliable questionnaire.
1. "Cutting the price of a product never increases the amount of revenue you receive. If we want to increase revenue, we have to increase price". Explain your answer (1 point)
TRUE ( ) FALSE ( )
2. In article about the financial problems of USA Today, Newsweek reported that the paper was losing about 420 million a year. A Wall Street Journal analyst said that the paper should raise its price from 50 cents to 75 cents, which he estimated would bring in additional $65 million a year. The paper’s publisher rejected the idea, saying that circulation could drop sharply after a price increase, citing The Wall Street Journal’s experience after it increased its price to 75 cents. (1 point)
A. What implicit assumptions is the publisher making about price elasticity? Explain.
B. What implicit assumptions is the analyst making about price elasticity? Explain.
3. One study found that the price elasticity of demand for soda is -0.78, while the price elasticity of demand for Coca-Cola is -1.22.
a) Coca-Cola is a type of soda, so why is not the price elasticity of demand the same as the price elasticity for soda as product?
Answers
1. The answer is FALSE. Cutting the price of a product can indeed increase revenue, as it can lead to an increase in demand for the product. This means that while the price of each individual item is less, there is a greater number of items being sold, which can result in higher total revenue. Of course, this is not always the case, as there are many factors that can influence consumer behavior and pricing strategies.
2. In an article about the financial problems of USA Today, Newsweek reported that the paper was losing about $420 million a year. A Wall Street Journal analyst said that the paper should raise its price from 50 cents to 75 cents, which he estimated would bring in an additional $65 million a year. The paper’s publisher rejected the idea, saying that circulation could drop sharply after a price increase, citing The Wall Street Journal’s experience after it increased its price to 75 cents
.A. The publisher is making the implicit assumption that the price elasticity of demand for USA Today is high. In other words, the publisher believes that if the price of the newspaper is raised, many consumers will choose to stop buying it altogether, which would result in a sharp drop in circulation. This is why the publisher rejected the idea of raising the price to 75 cents.
B. The analyst is making the implicit assumption that the price elasticity of demand for USA Today is relatively low. In other words, the analyst believes that even if the price of the newspaper is raised to 75 cents, most consumers will continue to buy it, which would result in an increase in revenue of $65 million per year. This is why the analyst suggested raising the price of the paper
.3. One study found that the price elasticity of demand for soda is -0.78, while the price elasticity of demand for Coca-Cola is -1.22.
a) The price elasticity of demand can vary depending on the specific brand or product in question, even if it is part of a larger category or type of product. In this case, Coca-Cola may have different price elasticity of demand than other sodas due to factors such as consumer preferences, marketing strategies, or brand recognition. Therefore, it is not surprising that the price elasticity of demand for Coca-Cola is different than the price elasticity of demand for soda as a whole.
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fill in the blank. although it is often an inexpensive source,___are sometimes not adequate to meet the needs of the researcher since they were acquired for some purpose other than the research question at hand.
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Although it is often an inexpensive source, secondary data are sometimes not adequate to meet the needs of the researcher since they were acquired for some purpose other than the research question at hand.
Secondary data are data that were originally collected by someone other than the researcher. The researcher gathers the data from someone else's study or research, instead of collecting data themselves. In many cases, secondary data may be the only available source of data, or it may be far more convenient to obtain secondary data than to gather primary data.
Primary data refers to the original data gathered by a researcher for a particular research purpose. Primary data collection requires researchers to be present in the field, laboratory, or other places where the data is gathered. The primary benefit of secondary data is that it is frequently considerably less expensive to obtain.
However, although it is often an inexpensive source, secondary data are sometimes not adequate to meet the needs of the researcher since they were acquired for some purpose other than the research question at hand. Therefore, the researcher should be cautious when using secondary data in their research.
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7. Suppose that the demand curve for garbanzo beans is given by
Q = 20 − P
where Q is thousands of pounds of beans bought per week and P is the price in dollars per pound.
a. How many beans will be bought at P = 0?
b. At what price does the quantity demanded of beans become 0?
c. Calculate total expenditures (P • Q) for beans of each whole dollar price between the prices identified in part a and part b.
d. What price for beans yields the highest total expenditures?
e. Suppose the demand for beans shifted to Q = 40 − 2P. How would your answers to part a through part d change? Explain the differences intuitively and with a graph.
Answers
The quantity of beans bought when p = 0 is 20 thousand, the price of beans when the quantity demanded is zero is $20. The price that yields the highest total expenditures is $10 per pound.
How many beans will be bought at P = 0?a. When P = 0, the demand curve becomes Q = 20 - 0 = 20. This means that 20 thousand pounds of beans will be bought per week when the price is free (zero).
b. To find the price at which the quantity demanded of beans becomes zero, we set Q = 0 and solve for P:
0 = 20 - P
P = 20
Therefore, when the price is $20 per pound, the quantity demanded of beans becomes zero.
c. To calculate the total expenditures (P • Q) for beans of each whole dollar price between the prices identified in part a and part b, we need to substitute the demand equation Q = 20 - P into the expression P • Q. Then we have:
P • Q = P(20 - P) = 20P - P^2
For each whole dollar price from $0 to $20, we calculate the corresponding quantity demanded using Q = 20 - P, and then multiply by the price to get the total expenditure. The results are shown in the table below:
Price (P) Quantity Demanded (Q) Total Expenditure (P • Q)
$0 20 $0
$1 19 $19
$2 18 $36
$3 17 $51
$4 16 $64
$5 15 $75
$6 14 $84
$7 13 $91
$8 12 $96
$9 11 $99
$10 10 $100
$11 9 $99
$12 8 $96
$13 7 $91
$14 6 $84
$15 5 $75
$16 4 $64
$17 3 $51
$18 2 $36
$19 1 $19
$20 0 $0
d. To find the price for beans that yields the highest total expenditures, we can take the derivative of the expression for total expenditure with respect to P and set it equal to zero:
d(P • Q)/dP = 20 - 2P = 0
Solving for P, we get:
P = 10
Therefore, the price that yields the highest total expenditures is $10 per pound.
e. If the demand for beans shifted to Q = 40 - 2P, then the new demand curve would be steeper than the original one. This means that for any given price, the quantity demanded would be lower than before. The answers to parts a through d would change as follows:
a. The new quantity demanded at P = 0 would be Q = 40 - 2(0) = 40 thousand pounds of beans per week.
b. To find the new price at which the quantity demanded of beans becomes zero, we set Q = 0 and solve for P:
0 = 40 - 2P
P = 20
Therefore, when the price is $20 per pound, the quantity demanded of beans becomes zero, which is the same as before.
c. We can calculate the new total expenditures for each whole dollar price using the expression P • Q = P(40 - 2P) = 40P - 2P^2
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Can you help me solve this economic problem?
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Scarcity and Opportunity Costs: The problem of scarcity refers to the fact that resources are limited while our wants and needs are unlimited. This means that we have to make choices about how to allocate resources. Opportunity cost is the value of the next best alternative that we have to give up when we make a choice.
2. Supply, Demand, and Price: Supply refers to the amount of a good or service that producers are willing and able to offer for sale at a given price. Demand refers to the amount of a good or service that consumers are willing and able to buy at a given price. Price is determined by the interaction of supply and demand in the market.
3. Economic Systems and the Three Basic Questions: Economic systems are the institutional arrangements that societies use to allocate resources and coordinate economic activity. The three basic economic questions are: what to produce, how to produce it, and for whom to produce it. Different economic systems answer these questions in different ways, such as through market economies, command economies, or mixed economies.
What is scarcity about?The problem of scarcity refers to the limited availability of resources in relation to the unlimited wants and needs of people. This means that people have to make choices about how to allocate resources to fulfill their most pressing needs and wants, which involves an opportunity cost.
Therefore, Supply and demand are two key factors that determine the price of goods and services in a market economy. Supply refers to the amount of a product that producers are willing and able to offer for sale at a given price, while demand refers to the amount of a product that consumers are willing and able to buy at a given price
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See text below
Economics Final 2020 Concept Understanding and Mastery
1. Explain the problem of scarcity and how all decisions involve opportunity costs. 2. Explain the relationship between supply, demand, and price.
3. Explain different economic systems and how they answer the three basic economic questions.
First Question: How long does this have to be? Long enough for you to DEMONSTRATE MASTERY.
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Use and draw images from various sources and create a coherent presentation or story for me. Use frames, slogans, voice and thought bubbles. Whatever it takes to be clear and show me that you understand one of the above learning targets.
The presentation or activity you chose can be a combination of notes, newspaper articles, drawings, and other media that demonstrates that you have mastered your chosen learning target. Please read the RUBRIC BELOW to see what you need to do get the desired score on the project.
PLEASE ASK IF YOU HAVE ANY QUESTIONS!
Determine which terms are most closely associated with graphic design by dragging each description label to the appropriate category A video installation Associated with Graphic Design NOT Associated with Graphic Design Typography A music album cover A movie poster Landscape photography
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Graphic design is the art of creating visual content for communications, including print and digital materials. The most closely associated terms with graphic design are typography, a movie poster, and an album cover.
Typography is the visual art of arranging type, used to create visual content for print and digital media. It can include typeface selection, line length, line-spacing, letter-spacing, and other elements. Typography is often used to convey messages in graphic design.
Movie posters are typically printed to advertise a movie, and are designed to attract attention to a film. Graphic designers use typography, color, and illustration to communicate the theme of a movie in an eye-catching way.
Album covers are the first thing a person sees when they come across a piece of music. Graphic designers use a combination of type, color, and illustration to communicate the style and theme of a musical piece.
In contrast, video installations and landscape photography are not typically associated with graphic design. Video installations are primarily used for art displays and interactive experiences, while landscape photography is the art of capturing natural scenery in an artistic way.
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Title: Boston Tea Party Eyewitness Account: Joshua Wyeth.
How did the author organize the ideas presented in the text? Answer and give 2 details please.
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The Sons of Liberty staged the Boston Tea Party, an American political and commercial protest, on December 16, 1773, in Boston, Massachusetts.
What is Boston Tea Party?
Joshua Wyeth's comments served as the basis for the first participant's account of the Boston Tea Party to be published. He joined other patriots in boarding the tea ships in Boston Harbor when he was barely sixteen years old. Mr. Wyeth, who spent his latter years in Cincinnati, told a journalist his tale. 53 years after the occurrence of the incident, in 1826, the report was published.
Demonstrators jumped on board the ships and dumped the tea chests into Boston Harbor. The demonstration was viewed as treason by the British authorities, who reacted violently. When the incident developed into the American Revolution, it rose to prominence in American history. Since then, several political movements, like the Tea Party movement, have identified to themselves as the Boston protest of 1773's historical heirs.
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7) Collateralizable wealth is A) wealth in non-tangible assets. B) any asset that can be used to obtain a loan. C) wealth that increases and income increases. D) wealth based on mortgage lending. 8) A collateral constraint captures the idea that A) there is asymmetric information in credit markets. B) assets may be of no use. C) consumers need incentives not to abscond on their debts. D) Ricardian equivalence always holds. 9) In the two-period model with asymmetric information, the presence of bad borrowers who always default A) makes good borrowers better off. B) matters only for the loan interest rate faced by bad borrowers. C) affects the equilibrium profits of banks. D) affects good borrowers adversely.
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7. The correct option is B. Collateralizable wealth is any asset that can be used to obtain a loan.
8. The correct option is C. A collateral constraint captures the idea that consumers need incentives not to abscond on their debts.
9. The correct option is D. In the two-period model with asymmetric information, the presence of bad borrowers who always default affects good borrowers adversely.
7) Collateralizable wealth is any asset that can be used to obtain a loan. This type of wealth is used as collateral against the loan amount, which is why it is known as collateralizable wealth. A borrower can use their personal assets, such as cars, real estate, or savings accounts, as collateral to secure a loan. This provides lenders with a safety net if the borrower defaults on the loan.
8) A collateral constraint captures the idea that consumers need incentives not to abscond on their debts. If the lender has no collateral, they are taking a significant risk in lending money to the borrower. Collateral constraints are particularly important in credit markets where there is asymmetric information. Asymmetric information occurs when one party in a transaction knows more than the other. The lender may not know whether the borrower is likely to repay the loan or not, which makes it difficult for them to decide whether to lend or not.
9) In the two-period model with asymmetric information, the presence of bad borrowers who always default affects good borrowers adversely. When a bank faces a high proportion of bad borrowers, they will need to increase the interest rates on loans to compensate for the risk of default. This can make it more difficult for good borrowers to obtain loans or afford the interest payments. This is known as adverse selection, where the presence of low-quality borrowers in the market reduces the availability of credit for high-quality borrowers. The presence of bad borrowers can also affect the equilibrium profits of banks, as they may need to increase their risk premium to cover the higher expected losses from bad borrowers.
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Consider an economy with the following equations: C = 254 + 0.39
YD I = 6373 G = 736 T = 708 i=0.26 Question: What is the value of
total consumption for this economy? (please use 2 decimal
places)
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The given consumption equation is C = 254 + 0.39YD
How to calculate the total consumptionIn order to calculate the total consumption for this economy, we need to find the value of YD.
YD represents disposable income and is calculated using the following equation:
YD = Y - T, where Y is income and T is taxes.
Using the given values of T and Y, we can calculate YD:
YD = Y - T = 10000 - 708 = 9292
Now we can substitute this value of YD into the consumption equation to find the value of total consumption:
C = 254 + 0.39YD = 254 + 0.39(9292) = 3661.88
Therefore, the value of total consumption for this economy is 3661.88 (rounded to 2 decimal places).
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how can we improve the condition of human rights in nepal
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Answer:
Strengthen the legal framework: Nepal should enact and enforce laws that protect human rights and hold perpetrators of human rights abuses accountable.
Promote civic education: Education about human rights and civic responsibility can help citizens understand their rights and hold the government accountable for protecting them.
Combat discrimination: Nepal should take steps to combat discrimination against marginalized groups, including women, children, people with disabilities, and ethnic and religious minorities.
Empower civil society: Civil society organizations play a critical role in promoting human rights and holding the government accountable. Nepal should support and empower these organizations to advocate for human rights and provide services
Explanation:
Consider two countries: Nepal and Sri Lanka. Each country produces food and clothing. You are told that if Nepal uses all its resources to produce Clothing, it produces a total of 600 units of Clothing. If it uses all its resources to produce Food, it can produce a total 300 units of Food. For Nepal, the opportunity cost of producing one unit of clothing is 0.5 units of Food, and the opportunity cost of producing one unit of food is 2 units of Clothing.On the other hand, if Sri Lanka uses all its resources to produce Clothing, it produces a total of 150 units of Clothing. If it uses all its resources to produce Food, it can produce a total 150 units of Food. The opportunity cost of producing one unit of Food for Sri Lanka is 1 unit of Clothing. The opportunity cost of producing one unit of Clothing for Sri Lanka is 1 unit of Food.If you were asked to comment on each country's comparative advantage, what would you say?a) Sri Lanka has a comparative advantage in producing Food, while Nepal has a comparative advantage in producing Clothingb) Sri Lanka has a comparative advantage in producing Clothing, while Nepal has a comparative advantage in producing Foodc) Sri Lanka has a comparative advantage in producing both Food and Clothingd) Nepal has a comparative advantage in producing both Food and Clothing
Answers
The concept of comparative advantage is a principle which explains why countries should specialize in the production of goods in which they have an advantage over other countries.Sri Lanka has a comparative advantage in producing Clothing, while Nepal has a comparative advantage in producing Food.The correct answer is b.
Nepal has a lower opportunity cost when it comes to producing Clothing compared to Sri Lanka, and thus Nepal has a comparative advantage in producing Clothing. Similarly, Sri Lanka has a lower opportunity cost of 1 unit of Clothing when producing one unit of Food compared to Nepal’s opportunity cost of 2 units of Clothing when producing one unit of Food. Therefore, Sri Lanka has a comparative advantage in producing Food.
Nepal has an opportunity cost of 0.5 units of Food when producing one unit of Clothing, while Sri Lanka has an opportunity cost of 1 unit of Food when producing one unit of Clothing. In terms of absolute values of production, Nepal can produce 600 units of Clothing if it uses all its resources to produce Clothing and 300 units of Food if it uses all its resources to produce Food.
On the other hand, Sri Lanka can produce 150 units of Clothing if it uses all its resources to produce Clothing and 150 units of Food if it uses all its resources to produce Food. This means that Nepal has an absolute advantage in producing both Clothing and Food compared to Sri Lanka.
However, as explained above, Nepal has a comparative advantage in producing Clothing while Sri Lanka has a comparative advantage in producing Food.Therefore, the correct answer is option b.Sri Lanka has a comparative advantage in producing Clothing, while Nepal has a comparative advantage in producing Food.
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