Answer:
According to the economists, the resources are scarce and human wants are unlimited. So, it is difficult to satisfy each and every want of people. But according to the theory of abundance, we can overcome from this problem by division and specialization of labor. If there is a proper division of labor according to their specialization then this will increase the productivity and one can produce more goods with the same level of resources.
From this economic practice, we can overcome from the problem of scarce resources.
Answer:
0.0042 is the probability of the stick's weight being 2.33 oz or greater.
Explanation:
We are given the following information in the question:
Mean, μ = 1.75 oz
Standard Deviation, σ = 0.22 oz
We are given that the distribution of drumsticks is a bell shaped distribution that is a normal distribution.
Formula:
P(stick's weight being 2.33 oz or greater)
P(x > 2.33)
Calculation the value from standard normal z table, we have,

0.0042 is the probability of the stick's weight being 2.33 oz or greater.
Answer: A. Fewer new businesses were started in 2010 than in other years
Explanation:
Answer:
The graph has been attached.
Explanation:
a. Please see attached graph with the shaded budget set labelled A
b. Please see attached. Curve C; D and E are the indifference curves. The most suitable one would be D since it is on the budget curve. E is not maximum utility and C is unattainable given his budget of $20.
c. U (X,Y) = X + 2Y
At C, Utility = 10 + 2(10) = $30. That is above his budget
At D, Utility = 10 + 2(5) = $20. This is within his budget. – most utility.
At E, Utility = 5 + 2(5) = $15. This is below his budget.
The Indifference curve that gives most utility is D, where cheese is 10 and cocoa is 5 units.
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