Fixed-Ratio Schedule.
Fixed Interval Schedule.
Variable-Ratio schedule.
Variable-Interval schedule.
there are 4 of them. we can rule out fixed because it's not like there are specific time or amount of time you need to buy lottery ticket to win.
we can also rule out interval because winning isn't dependent on when you buy.
only choice left is variable ratio.
A like insurance contracts they involve transefer of risks
Question Completion:
A. if college administrators raised the tuition with no change in supply, a surplus of college places would be created at the higher tuition, and the tuition would start to fall
B. the law of demand does not hold
C. more than 4,500 public and private 2-year and 4-year schools supply college education services
D. an increase in demand raises the tuition and increases the enrollment, which accurately describes the market for college education
Answer:
We can be confident that the market for college education is competitive and that an increase in demand rather than the greed of college administrators is the reason for the ongoing rise in tuition for all of the following reasons except _______.
B. the law of demand does not hold
Explanation:
The law of demand implies that the price of a good or service responds to the level of demand. In other words, higher demand increases the price, while lower demand reduces the price. This implies that without the higher demand for college education, college administrators will not be able to sustain an increase in tuition. Therefore, an increase in the demand for college education will lead to increased enrollment, which spurs college administrators to raise tuition.
Answer:
No
Explanation:
Katie's opportunity cost is too high. She is giving up more money at the dental practice than the $100 she would be saving by making the pastries from hand instead of ordering them from the caterer. The group should continue to order the pastries and split the cost among all the friends so each person's share is lower.
