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3 years ago

Use the graph for a competitive market ti answer the question below

Business

1 answer:

Svetlanka [38]3 years ago

3 0

Answer:

$3.25

Explanation:

The new price for cigarettes will be the intersection point between the demand curves and the new supply curve.

Assuming S1 is the old supply curve without taxes and the new supply curve is S2 with taxes. The new price is the intersection of S2 and the demand curve, which is at $3.25.

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A bag contains 9 red marbles, 5 white marbles, and 6 blue marbles. You draw 4 marbles out at random, without replacement. Find t

IRINA_888 [86]

a) 0.0260

b) 0.0681

Explanation:

The bag contains:

r = 9 (number of red marbles)

w = 5 (number of white marbles)

b = 6 (number of blue marbles)

So, the total number of marbles in the bag at the beginning is:

$n=9+5+6=20$

At the 1st attempt, the probability of choosing a red marble is:

$p(r)=\frac{r}{n}=\frac{9}{20}$ (1)

At the 2nd attempt, the 1st red marble is not placed back, so now the number of marbles is (n-1), while the number of red marbles left is (r-1). So the probability of choosing another red marble at the 2nd attempt is

$p(r)=\frac{r-1}{n-1}=\frac{8}{19}$ (2)

With a similar argument, the probabilities of selecting a red marble in the 3rd and 4th attempt are

$p(r)=\frac{7}{18}$ (3)

$p(r)=\frac{6}{17}$ (4)

Therefore, the probability of drawing 4 red marbles in the first 4 attempts without replacing is:

$p(rrrr)=\frac{9}{20}\frac{8}{19}\frac{7}{18}\frac{6}{17}=\frac{3024}{116280}=0.0260$

At the 1st draw, the probability that the marble is not red is:

$p(r^c)=1-p(r)=1-\frac{9}{20}=\frac{11}{20}$

At the 2nd draw, there are 9 red marbles left and 19 total marble left. So, the probability of NOT drawing a red marble is:

$p(r^c)=1-\frac{9}{19}=\frac{10}{19}$

At the 3rd draw, there are 9 red marbles left and 18 total marbles left. So, the probability of NOT drawing a red marble is:

$p(r^c)=1-\frac{9}{18}=\frac{9}{18}$

Finally, with a similar argument the probability of NOT drawing a red marble at the 4th and last attempt is:

$p(r^c)=\frac{8}{17}$

So, the total probability of drawing 4 non-red marbles in the first 4 attempts is:

$p(r^cr^cr^cr^c)=\frac{11}{20}\frac{10}{19}\frac{9}{18}\frac{8}{17}=\frac{7920}{116,280}=0.0681$

6 0

3 years ago

What should a consumer consider when deciding whether to purchase health insurance?

sashaice [31]

C. Whether the deductible is higher compared to other policies. Sorry if I am wrong but this is my best answer.

7 0

2 years ago

Read 2 more answers

How do businesses use the competency "Engaging Communication" to solve problems?

Whitepunk [10]

If you engage in conversation or to communicate this will help solve problems because your communicating if that makes sense

8 0

2 years ago

The consumer's level of involvement can lead to two types of buying decisions: __________ or

Olenka [21]

Answer:

The consumer's level of involvement can lead to two types of buying decisions: limited problem solving or extended problem solving

Explanation:

limited problem solving:

It is a problem solving process in which customer is only willing to put very little effort to make a purchase decision in order to fulfill his want or need. Purchaser uses simple decision rules for reaching a a purchase decision with minimal research done. He is not much concerned about the best solution and has limited resources and time for searching information and assessing each alternative thoroughly.

For example: you need a new pair of joggers for gym. You are already have an idea about joggers and know about new available materials and attributes. So you might do a bit research online and come to a decision comparatively quickly. You might consider your favorite outlet instead of searching for the joggers at every outlet. So you take buying decision limiting involvement in this process.

extended problem solving

In this process the costumer attempts to collect as much information as possible, and thoroughly assess and evaluate product alternatives. So in this situation buyer don't have much idea about the product brands, attributes and characteristics to access the product. Purchaser will research, differentiate and put a lot of effort for taking best buying decision that will fulfill his needs. prior to purchasing the product, he might visit various outlets, research online, search for reviews and suggestions, take information from outlet staff. about the product Marketer should provide with such information to customer.

For example high value items like car, a house etc. Such items are not purchased often so the consumer will invest a lot of time in research and comparison in order to take the best decision.

6 0

3 years ago

The salesperson who is responsible for ongoing business with a customer who uses a product, satisfying their long-term needs and

yan [13]

Answer: Account manager

Explanation: The account manager is that salesman of a company who is responsible for managing sales and relationship with particular customers of the company. The account manager is assigned accounts of customers of which he has to maintain relationships with.

The main focus of account manager is to manage sales with customers and identify new business opportunities if any.

Thus, Account manager is the right answer for the given case.

5 0

2 years ago