Answer:
A) Marginal private cost= 50
B) Total Marginal social cost to society = 70
Explanation:
A) In order to find the marginal private cost we will use the firms production cost formula as it is the private cost that the firm is enduring and is only relevant to the firm's cost and not the society's cost.
In order to find the marginal unit cost of the 10th unit produced will will replace Q in the formula by 10 as it represents quantity.
MC= 10 + 4Q
MC= 10 + 4(10)
MC= 10 +40 = 50
B) In order to find the marginal cost to society we will add the marginal external cost of the 10th unit to its private cost. We already know the marginal private cost is 50 now we need to find the marginal external cost to it to find the total marginal cost.
Marginal external cost = 2Q
Q= 10
Marginal external cost = 2*10 =20
The total Marginal cost to society= 50 + 20= 70
Answer: An availability bias
Explanation: An availability bias is simply defined as the tendency for people to base their judgments on information that is easier to recall than on those that require extensive use of memory. It is also given as an unrecognized tendency of decision-makers to give preference to recent information, vivid images that evoke emotions, and specific acts and behaviors that they personally observed. Albert by asking questions that come to his mind easily as a result of inadequate preparation which leads to his hiring poor quality employees indicates an availability bias.
Answer:
d. bounce rates
Explanation:
According to my research on web-page development and maintenance, I can say that based on the information provided within the question the owner needs to address the bounce rates. This term refers to the percentage of visitors to a particular website who navigate away from the site after viewing only one page. Which is what is currently happening with the customers that Lolly's Bookstore is receiving.
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When we say centrally planned economy, this means that the economy is being controlled and managed by the government rather than the individual businesses between the owners and the consumers. There was a time that the Russian economy found it difficult to adjust and the way how they adjusted is by modifying the economy. The modification included free market practices which enabled individual owners to gradually balanced their businesses.
