Answer: There are 4 possibilities. They are all listed below with their percents.
You can create a tree diagram to shows all of the possibilities. It will start with 2 branches and then each of those branches will have 2 branches.
The possibilities are: UU, UD, DU, DD
To find the probabilities of each, you have to multiply the percent for each together.
UU = 0.66 x 0.66 = 0.4356
UD = 0.66 x 0.34 = 0.2244
DU = 0.34 x 0.66 = 0.2244
DD = 0.34 x 0.34 = 0.1156
Let me know if you don’t understand anything. Hope this helped.
If the equilibrium is such that only 12000 units are sold for $27, then the total earnings from the given scenario is $324,000. The supply equation would then be,
supply: 324000 = 6p ; p = 324000/6 = 54000
demand: 324000 = 69p ; p = 324000/69 = 4695.65 ≈ 4696
Answer:
Answer is 24
Step-by-step explanation:
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