Answer:
$-40,000
Explanation:
Calculation for the expected monetary outcome
Using this formula
Expected monetary outcome=Probability x Affect
Let plug in the formula
Expected monetary outcome=0.4 x $1,000,000=$400,000
Expected monetary outcome= 0.6x $600,000=$360,000
Expected monetary outcome=$360,000-$400,000
Expected monetary outcome=$40,000 loss
Therefore the Expected monetary outcome will be a loss of $40,000
Answer:
a. The cost of producing additional unit of output
Explanation:
Marginal cost refers to the extra cost incurred to produce additional unit of output or service.
Often times production or manufacturing companies tends to produce more units of outputs maybe to meet recurrent demand. The cost expended in the production of such extra units of output is called marginal cost. It is computed as change in the cost of producing additional goods divided by change in the number of goods produced.
Answer:
First of all, Switzerland has one of the most open and free market economies in the world, while the US government says that our economy is open but compared to other capitalistic countries, the American economy is a very closed one.
The effects of any change in monetary policy will be more significant in a small open economy like Switzerland since foreign trade is very important to them.
An increase in the money supply will depreciate the currency of a country, and any effect on the exchange rate will affect more an open economy.
Blank 1. Protect citizens from crime and justice
Blank 2. Applies to them in only certain cases
Answer:
Income elasticity = 2
Normal good
Explanation:
Below is the given values:
Percentage decrease in consumers income = 10%
Percentage decrease in quantity demanded = 20%
Use the below formula to find the income elasticity:
Income elasticity = % change in quantity demanded / % in income
Income elasticity = -20/-10
Income elasticity = 2
Since the elasticity is 2 that means good is normal good.
