Answer:
Thus, expected value of playing = $2.8 - $2 = $0.8
Explanation:
Cost of playing = $2
Expected return
10% chance to win $1 = $1
10% = $0.1
25% chance to win back $2 = $2
25% = $0.5
50% chance to win $5 = $5
50% = $2.5
15% chance to lose $2 (being cost) = $2
15% = ($0.3)
= $0.1 + $0.5 + $2.5 - $0.3 = $2.8
Now for this we have to pay fixed cost $2
Thus, expected value of playing = $2.8 - $2 = $0.8
Answer:
Jules can rescind the contract on the basis of fraud.
Explanation:
Since Garland misrepresented the material facts about the restaurant, that constitutes fraud.
When a party involved in a contract is purposefully dishonest with the other parties while making or performing a contract, it is called contract fraud. Contract fraud also occurs when a party intentionally misrepresents the material facts concerning the contract.
It's 16.282. ok I don't think for sure though
The economy must increase inputs.
<h3>
The production possibility curve, what is it?</h3>
A limited number of goods and services can be produced by factors of production in an economy. A production possibilities curve illustrates the many combinations of goods and services that a nation's economy is capable of creating. It serves as an illustration for the model of production possibilities. We will assume that the economy can only generate two types of commodities, that the quantities of its accessible technologies are fixed, and that it can only manufacture two types of goods at once when plotting the production possibilities curve.
As a result, increasing inputs is necessary for an economy to enhance its production potential.
For more information on <u>Production Possibility </u>Curve, refer to the following:
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