What is 3.4 as a fraction
2 answers:
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Answer:
The list of these events from least likely to most likely is Blue-Blue -> Black-Blue -> Blue-Black -> Black-Black
Step-by-step explanation:
A probability is the number of desired outcomes divided by the number of total outcomes.
Possible outcomes:
Black - Black
Black - Blue
Blue - Black
Blue - Blue
Probability of each outcome:
Black-Black:
14 out of 20, and then 9 out of 12. So
Black-Blue:
14 out of 20, then 3 out of 12. So
Less likely than black-black.
Blue - Black:
6 out of 20, then 9 out of 12. SO
More likely than black-blue, less likely than black-black.
Blue - Blue
6 out of 20, then 3 out of 12
Least likely of the outcomes.
List these events from least likely to most likely:
The list of these events from least likely to most likely is Blue-Blue -> Black-Blue -> Blue-Black -> Black-Black
Answer:
The equilibrium quanity and equilibrium price is 3 Thousand units and 32 dollars respectively.
Step-by-step explanation:
Market equilibrium occurs in those markets in which the quantity demanded by consumers equals the quantity supplied by firms. In this state, the equilibrium point has its corresponding equilibrium quantity and price. That is, the equilibrium point is that point where, for a given price, the quantity supplied is equal to the quantity demanded.
The supply and demand curves represent the quantities that consumers are willing to buy and producers are willing to sell at that price respectively.
Being:
- demand equation: 6x+p-50=0 ⇒ 6x= 50 - p ⇒
- the supply equation 6x-p+14=0 ⇒ 6x= p - 14 ⇒
Since when the market reaches equilibrium, the quantity demanded equals the quantity supplied and x representing the quantity demanded in units of thousand, then:
Solving, you get:
50 - p= p -14
50 - p +14 = p
50 +14= p + p
64= 2*p
P=32 dollars
This value is the equilibrium price. Replacing this value in the demand and supply equation, the equilibrium quantity is obtained, which should be the same for both cases:
- demand equation:
⇒ x= 3 Thousand units
- the supply equation
⇒ x=3 Thousand units
So, <u><em>the equilibrium quanity and equilibrium price is 3 Thousand units and 32 dollars respectively.</em></u>
In its graphical representation, the equilibrium point can be seen as that point where the supply and demand curves intersect. You can see this in the attached image, where the blue line represents the supply and the red line the demand.
