Answer:
The first reason why people are willing to pay so much less or lower than the expected value is due to the uncertainty of flipping a heads. Heads may never be flipped.
The Second reason they are willing to pay so much less or lower is because the expected value will rarely reach over $10 because player would have to make it to the 5th flip in order to recoup their investment in which most of the players are unwilling and ready to take that risk.
Explanation:
Saint Petersburg Gambles
The first reason why people are willing to pay so much less or lower than the expected value is due to the uncertainty of flipping a heads. Heads may never be flipped.
The Second reason they are willing to pay so much less or lower is because the expected value will rarely reach over $10 because player would have to make it to the 5th flip in order to recoup their investment in which most of the players are unwilling and ready to take that risk.
A process for two or more people coming together to operate an investment, such as partnerships or corporations, is Franchise.
<h3>What is franchise?</h3>
Franchise is a type of business that is owned and operated by an individual (franchisee) but that is branded and overseen by a much larger entity.
Advantages of owing a franchise are :
- A franchise owner gets valuable help throughout the lifespan of the business.
- Owning a franchise comes with a low rate of failure.
Therefore, franchise is a process whereby two or more people come together to operate an investment, such as partnerships or corporations.
Learn more about franchise here: brainly.com/question/3687222
Strategists have three options at their disposal to drive firm growth: organic growth through internal development, or external growth through alliances or acquisition. In this article, HP’s CEO explicitly states that HP’s strategic path forward includes organic growth through internal development, specifically <span>through research and development.
(Build) I hope this helps.</span>
Answer:
(a) Fixed cost = Monthly payment of buying car and insurance.
Variable cost = Regular - grade gasoline cost and depreciation.
(b) $0.25
(c) Variable cost
Explanation:
According to the scenario, computation of the given data are as follow:-
a). Fixed cost are include monthly payment of buying car and insurance and variable cost include regular - grade gasoline cost and depreciation.
b). Marginal Cost of a Mile Driven = Cost Per Gallon ÷ Mile Per Gallon + Car Cost Per Mile
= $2.50 ÷ 25 + 0.15
= $0.25
c). Whether to drive from Atlanta to Las Vegas (about 2,000 miles round trip) we will considered variable cost because its change according to the traveled distance.
