Answer:
Normal goods are those goods which see their demand rise when income rises and fall when income falls. Inferior goods on the other hand will see their demand fall when income rises and vice versa.
a. Book = Normal Good
Coffee = Neutral good
The demand for Books increased when Bill had more money which makes it a normal good.
The demand for coffee did not change when new income came thereby making it a neutral good.
b. Book = Normal Good
Coffee = Inferior good
The demand for Books decreased when Bill had less money which makes it a normal good.
The demand for coffee increased when Bill's income reduced thereby making it an inferior good.
c. Book = Normal Good = Coffee
Both coffee and books are normal goods because Bill is buying less of them when their prices increase because it means that Bill has less income to spend on them.
d. More information needed.
We are unable to tell which goods are normal or inferior as we are not given information on the relative changes in demand as a result of income changing.
Answer:
Easy to transfer ownership.
Explanation:
its ownership is easily transferable via the sale of shares of stock.
Answer:
A. Nonprofit organizations exist to help people rather than to make money.
Explanation:
A non profit organization is known as a non business entity, which is established to contribute positive things to the society and advocate good social values. The reason why many religious workers work in NGO is because as NGO advocate good social values, they do not have the religious discrimination in the organization - which many multinational companies are struggling with due to the difference in culture, religion. So that working in NGO can assure their most safe and comfortable working environment.
Answer:
The advice is wrong. A sampling error only accounts for the difference in results based on the use of a sample rather than the entire population.
Explanation:
Answer and Explanation:
As per the data given in the question,
a) Dominant strategy is that strategy in which a player chooses strategy irrespective of the strategy which other player has already chosen.
For Charles, If Dina chooses right he will choose right because payoff is higher (6 > 3) but if Dina chooses left he will choose left because payoff is
is higher (7>6) So, he doesn't have any strategy.
For Dina, he will choose right because it gives highest payoff whether Charles choose right or left.
The dominant strategy is for Dina to choose right.
b)
The outcome matching the unique Nash equilibrium in this game is :
Nash equilibrium is that in which both players will chose after keeping in mind the other players' strategy.
Here equilibrium is :
Charles chooses right(while Dina chooses Right) and Dina chooses right (while Janet chooses right).
