6/100 • 30 = 1.8
1.8 + 30 = 31.8
Answer is $31.8
The extra amount that Mary would pay for apples under a monopoly instead of perfect competition is B. $3
<h3>Calculations and Parameters:</h3>
From the complete information,
There are images of the prices that can be gotten under a monopoly and the ones that can be gotten in a perfect competition by Mary.
The marginal cost which is graphed against the pound of apples and the price shows Mary would pay $15 and the marginal revenue shows that Mary would pay $12.
Hence, the difference between them, which is the extra amount to be paid would be $15-$12
=$3
Read more about perfect competition here:
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5.5 × 2= 11
11 is the length.
perimeter= 11+11+5.5+5.5
The perimeter is 33 units.
Step-by-step explanation:
To check out how efficient or accurate a model is, we use the akaike information criterion or the Bayesian. If the AIC or BIC are lower, then this model would be better. They are also used to control for model complexity
Akaike information criterion = 2k-2ln where k is the number of parameter. A higher k gives a higher AIC.
In the real world complex models are discouraged and avoided since
1. They cause data to be over fitted and can capture noise and information from this data.
2. They are complex and therefore difficult to interpret
3. They consume a lot of time and computing them has several inefficiencies.
Using these two as measure of performance, we can select optimal choice of independent variable.
With forward/backward regression, we are able to put new variables in the model or remove from it. The best is the one with lowest AIC.
