Answer:
a. Very close to zero.
b. All people in the region are equally likely to decide to visit the amusement park on any given day.
Explanation:
Assuming that all people in the region are equally likely to decide to visit the amusement park on any given day, the probability that all 6.7 million will decide to visit on the same day is:
The probability is very close to zero. It is not exactly zero since there still is a very slim chance.
Explanation:
Agile methods differ from traditional methods in that they prioritize feedback and learning, promoting flexibility and collaboration. Instead of a set process, they allow room for a constantly revised and updated plan of action based on outcomes, customer feedback, and latest results
Answer:
a. GDP in this economy is $135.
b. Producer Value Added
(Dollars)
Farmer 70
Miller 50
Baker 15
Total $135
c. The total value added for the three producers in this economy does not equal the economy’s GDP.
b. False
Explanation:
Ordinarily, Gross Domestic Product (GDP) is the economic measure of the total value of all the finished goods and services produced within a country's borders in a specific time period, usually a year. Broadly, it comprises the totality of private consumption, fixed investment, change in inventories, government consumption, and net exports. On the other hand, value added can be defined as the economic profit made from a business activity.
Answer:
Marginal cost equals marginal revenue.
Explanation:
Profit maximization states that firms must operate at a level of output where marginal costs = marginal revenue.
If the firm produces less that that, they will not be making the maximum profit because they could still produce more and make more money.
If the produces more, they will be losing money because cost will be higher than revenue.
The spot on a graph where marginal costs equal marginal revenue is the "sweet spot" where profits are maximized.
Answer: Option C
Explanation: In simple words, cost of equity refers to the minimum amount of return that a company have to give to its investors to convince them to invest in the company with the current share price in the market.
It can also be seen as the amount of expected return that investors are willing to get based upon the current level of risk and market conditions.
This rate of return is used by investors in valuing the share of the stock. Investors discount back the expected future inflows to the present value by using this rate as the discounting rate.
It gives the idea of how much an investor should invest today if he or she get the expected dividend in the future.