Answer and Explanation:
Given:
μ = 75 million
SD = 17 million
Probability (x) raw data = 110 million
Computation:
= Probability (x) < 110 million
= Probability [(x-μ) / SD] < [(110 - 75) / 17]
[(x-μ) / SD] = Z
= Probability [z] < [(35) / 17]
= Probability [z] < [2.05882353]
Using z calculator:
P-value from Z-Table:
Z score = 0.98024
Therefore, probability is 0.98024
Answer
<u>Market surplus will lower the prices for goods and increase the consumer quantity demand for the products.</u>
Explanation
A market surplus is when there is excess supply. The quantity supply in this case is greater than the quantity demanded. Producers will be faced with a hard time to sell all their goods. This will make them lower their prices to make their products more appealing to consumers. Firms will also have to lower market prices in order to stay competitive. In response to the reduced prices, consumers will increase the quantity demanded thus moving the market to an equilibrium price and quantity. This is a case where excess supply has exerted a downward pressure on the prices of the products.
Answer:
B. Price promotion
Explanation:
Ashton by trying to create awareness in his new branch, he is planning to cut price and offer coupons so as to persuade customers to purchase from him. The practice is known as price promotion.
Price promotion is the combination of two words "price" and "promotion".
Price refers to the amount of money paid by consumers to purchase goods and services.
Promotion on the other hand refers to activities that persuade the consumers to buy a product and communicate the product’s features and benefits.
Combining the two definitions, pro promotion refers to a discount in price which will encourage consumers to purchase a product.
If a monopolist or a perfectly competitive firm is producing at break-even point then they're basically equaling their average revenue to the average total cost - ii.
This basically means that they are operating at a level where the amount which they produce relates to the amount they spend.
Answer: B. Currency Boards
Explanation: Capital control is a process through which Organisations put in place different actions and programs to regulate the capital used in the business. This can be in the form of prohibitions(a capital control by preventing certain spending)
Taxes are also means of controlling capital by Organisations.
Quotas are also used to control capital by assigning certain level of spending or investment.
