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2 years ago

What is the role of consumers and producers in a free market system

Business

1 answer:

Whitepunk [10]2 years ago

3 0

Answer:

Consumers buy and use the products that producers make and sell to the public. So the roles are consumers=buy while producers=make.

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A fast-food restaurant has determined that the chance a customer will order a soft drink is 0.90. The proba- bility that a custo

azamat

Answer:

(a) The probability that the order will include a soft drink and no fries is 0.45.

(b) The probability that the order will include a hamburger and fries is 0.48.

Explanation:

Let the events be denoted as follows:

S = an order of soft drink

H = an order of hamburger

F = an order of french fries.

Given:

P (S) = 0.90

P (H) = 0.60

P (F) = 0.50

(a)

It is provided that the event of ordering a soft drink and fries are independent.

If events A and B are independent then the probability of event (A ∩ B) is:

$P(A\cap B)=P(A)\times P(B)$

Compute the probability that the order will include a soft drink and no fries as follows:

$P(S\cap \bar F)=P(S)\times P(\bar F)\\=P(S)\times[1-P(F)]\\=0.90\times (1-0.50)\\=0.45$

Thus, the probability that the order will include a soft drink and no fries is 0.45.

(b)

It is provided that the conditional probability that a customer will order fries given that he/she has already ordered a hamburger as, P (F|H) = 0.80.

The conditional probability of an event B given another event A has already occurred is:

$P(B|A)=\frac{P(A\cap B}{P(A)}$

Compute the probability that the order will include a hamburger and fries as follows:

$P(F|H)=\frac{P(H\cap F)}{P(H)}\\P(H\cap F)=P(F|H)\times P(H)\\=0.80\times 0.60\\=0.48$

Thus, the probability that the order will include a hamburger and fries is 0.48.

6 0

2 years ago

Coccia Co. wants to issue new 20-year bonds for some much-needed expansion projects. The company currently has 8 percent coupon

Gre4nikov [31]

Answer:

7.28%

Explanation:

For this question we use the RATE formula that is shown in the attachment below:

Provided that

Present value = $1,075

Assuming figure - Future value or Face value = $1,000

PMT = 1,000 × 8% ÷ 2 = $40

NPER = 20 years × 2 = 40 years

The formula is shown below:

= Rate(NPER;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the coupon rate is

= 3.64% × 2

= 7.28%

6 0

3 years ago

One problem in the interstate trucking industry is the number of trucks that return empty after making a delivery. There is a we

balu736 [363]

Answer:

Yield management pricing

Explanation:

Yield management pricing is the charging of different prices for a given set of capacity at a specific time in order to maximize revenue. This is based on the demand and supply in the market and is very common in industries such as airlines, hotels and resorts. When there is very high demand for airline seats, prices for them are high. However, if some of those passengers decided to refund their tickets, close to departure and the flight would be taking off soon, instead of flying with empty seats and no revenue from them, the airline would decide to sell these same seats at a cheaper rate in order to gain some revenue. This is a form of revenue maximization.

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2 years ago

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2 years ago

Rick is an asparagus farmer and the world asparagus market is perfectly competitive. the market price is $18 a bundle. rick sel

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3 years ago