Answer:
Explanation:
Let D be the event that the lost card is a diamond
and D' be the event that the lost card is a non diamond
Therefore,
P(D) = 
= 0.25
P(D') = 
= 0.75
Now,
Event that the cards picked up are both diamonds = A
Thus,
P( A | D) = 
[ As One Diamond Card is lost ]
And,
P(A | D') = 
[ As One Non-Diamond card is lost ]
Therefore,
P(A) = P(D) × P(A | D) + P(D') × P( A | D')
= 0.25 × + 0.75 ×
=
<span>Ans : Unanticipated inflation benefits debtors at the expense of creditors. The statement is True.
When the inflation is unexpectedly high, the Real Interest Rate is lower than anticipated thats why it hurts lenders but benefits borrowers.</span>
Answer:
In equilibrium, each worker is paid his or her value of the marginal product of labor.
Explanation:
Here are the missing option of the question:
- In equilibrium, each worker is paid his or her value of the marginal product of labor.
- Each worker is paid a wage equal to the highest value of the marginal product of labor(i.e., $40)
- Each worker is paid $15.
- We need to know the product price before we can figure out the wage rate.
As per marginal theory of productivity of income distribution, Income of each factor production is equal to its marginal productivity.
Marginal productivity is one additional unit of production by one unit additional unit of factor, which bring changes in total production. Firm hire labor till marginal revenue product of labor is more than wage rate of labor. The point at which Marginal revenue product of labor is equal to wage rate labor is the labor market equilibrium.
The answer is:
- Greater
- Higher
Since you did not spend large amount of money in renting, you can move freely without feeling that you've spend to much for the place to stay. This is why renting is considered to be more flexible compared to owning a house.
But, Renting tend to lead to higher cost in the long run because the owner of the property would definitely impose higher price than they spend to buy the property. Otherwise they would not obtain any profit.
Answer:
purchase the same amount as before when the price rises by 10%.
Explanation:
A perfectly inelastic demand curve is basically a straight vertical line. This means that the consumers are willing to purchase the goods or services no matter what their price is. In other words, they will keep buying them at any price, up to infinity and beyond. This is not a real scenario, because no product will be purchased at any price that the seller wants.
