Answer:
Profit will increase by $2.3
Explanation:
Data provided in the question:
If instead of grooming 130130 dogs, he grooms 131131 dogs
Marginal cost = $65.82
Marginal revenue = $68.12
Now,
The effect on his profits of grooming 131 dogs instead of 130 dogs will be:
Change in profit = Marginal revenue - Marginal cost
or
Change in profit = $68.12 - $65.82
or
Change in profit = $2.3
Hence,
Profit will increase by $2.3
Answer:
Option C, “inversely related” is the correct answer.
Explanation:
Option “C” is the correct answer because if the interest rate on the bonds falls then its demand rises. Thus, its rising demand will derive up the price of bonds. If the interest rate rises then the demand for bonds will fall and this will reduce the price of bonds. Therefore, this condition shows the inverse relationship between the interest rate and bond price
Answer:
The correct answer is binary variables.
Explanation:
A binary variable is one that can only have two possible values. They generally fulfill two essential characteristics:
1. They are made up of two exhausting values, which indicates that there is no other possibility of response. For example, a person is female or male.
2. Both values of the variable are exclusive, that is, it is not possible that both responses can be given, only one. In the same example above, a customer cannot be a woman and a man at the same time.
