All things being equal; demand decreases, as price increases.
The quantity supplied when price is $4 is 28
From table 4.4 (see attachment).
When price = $4, we have the following supplies:
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So, the total supply at $4 is:
Hence, the quantity supplied when price is $4 is 28
Read more about demand and supply at:
Answer:
Step-by-step explanation:
From Bayes' theorem is stated mathematically as the following equation:[2]
{\displaystyle P(A\mid B)={\frac {P(B\mid A)\,P(A)}{P(B)}},}
where A and B are events and P(B) ≠ 0.
P(A) and P(B) are the probabilities of observing A and B without regard to each other.
P(A | B), a conditional probability, is the probability of observing event A given that B is true.
P(B | A) is the probability of observing event B given that A is true.
At this point, go through the attached file before you continue with part B.
Part B)
P(silver) = P(silver from SS)+P(silver from GS)
note P(SS)=P(GG)=P(GS) = 1/3
P(silver from SS) = 1
P(silver from GS) = 1/2
hence
P(Silver from SS) = 1/3
P(Silver from GS) = 1/3 *1/2
P(Silver) = 1/3*1+1/3*1/2
required probability = P(Silver from SS)/P(Silver) = 2/3
