Answer:
The correct answer is letter "C": the sum of private and external costs.
Explanation:
<em>Neoclassical economics</em> -based on supply and demand as market drivers- define the social costs of transactions as the sum of private costs inherent in the operation and the costs consumers set because of being exposed to the transaction or the external costs. This cost differs from the <em>private costs</em> which are the expenditures a producer incurs in the production of a good or service.
Answer:
The advantage over buying the house over renting the apartment is that, you would own the house instead of just renting it. If you own the house, and the mortgage covers everything including repairs if you buy the house while if you need a repair in a rented apartment it would probably cost a fortune. Living in an apartment means that if the owner decides they want to rent the house or sell the house, that you will have to move (or pay for a mortgage which you might as well buy the house that's bigger than buy the apartment.)
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Answer:
<h2>Assembly Line</h2>
1. Probability that a unit ends up in rework = Probability of defect in 20 stations multiplied by the probability of catching defects = 0.8%(1% x 80%) = 0.008
2. Probability that a defective unit is shipped = Probability of defective units during inspection plus Probability of defective units during rework = 25% (20% + (100-95%)) = 0.25
Explanation:
a) Probability of defect in 20 stations = 0.5% x 20 = 1%. Each station has a 0.05%
b) Probability of defective units during inspection = 20% (100% - 80)
c) Probability of defective units during rework = 5% (100% -95)
c) Probability is the likelihood or chance of an event occurring. Divide the number of events by the number of possible outcomes. This will give us the probability of a single event occurring.
<span>The bungee company can claim you knew the risks of bungee jumping as the jumper signed and complied with all the paperwork and consent forms before performing the jump.</span>
