Answer:
Fallacy of composition.
Explanation:
Fallacy of composition also called faulty induction, composition fallacy, or exception fallacy is an assumption which states that the result achieved from an experiment on a section of a population will be true for the entire population. Fallacy of composition often lead to incorrect conclusion as what is good for a part of a bigger population may not always be good for the whole, example is when a spectator in a stadium stands up, he gets a better view of the game, but when everybody stands up, the opposite is the case.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Suppose that a monopolist is selling 100 units of a product for $20 each. If the average variable cost at this level of output is $10.50 and average fixed cost at this level of output is $8
Economic profit= (20 - 10.5 - 8)*100= $150
B or D I believe I remember the question but it’s one of those 2
Answer:
25 seats
Explanation:
Calculation to determine By how many seats should Super Discount overbook the fight
First step is to calculate the Critical ratio=
Using this formula
Critical ratio=Cu/Cu+Co
Where,
Cu represent cost of underetimating the demand =$134
Co represent the cost of overestimating the demand $263
Let plug in the formula
Critical ratio=$134/$134+$263
Critical ratio=$134/397
Critical ratio=0.3375
Second step is to find the z-score that yields a p-value of 0.3375 using excel's normsinv() function which gives us -0.4193.
Now let determine how many seats should Super Discount overbook the fight
Numbers of seats to overbook the fight=35+ (-0.4193 x 24)
Numbers of seats to overbook the fight= 35 - 10.0632
Numbers of seats to overbook the fight = 24.9368
Numbers of seats to overbook the fight = 25
(Approximately)
Therefore the numbers of seats that super discount airlines should overbook the flight is 25 seats.
The answer is trough. In economics, it is a low decision point or a local minimum of a business cycle. The time fruition of many variables of economics display a wave like performance with local maxima or also known as peaks subsequent to local minima or troughs. A business cycle may be demarcated as the period between two successive peaks.