Answer:
(1)raise, (2)decrease
Step-by-step explanation:
A monopolist's marginal cost curve shifts up, but the firm's demand curve remains the same and the firm does not shut down. Compared with the condition before the increase in marginal costs, the monopolist will <u>raise</u> its price and <u>decrease</u> its level of production.
Marginal cost is the additional cost incurred when one more unit of the output is produced. It is a J-shaped curve, which <em>initially decreases, reaches its minimum and then starts increasing.</em>
Marginal cost is an important factor in economic theory because a company that is looking to maximize its profits will produce up to the point where <em>marginal cost (MC) equals marginal revenue</em>
This is considered as decision making under risk.
Decision Making Under Risk
A circumstance in which the implications of the chosen course of action and the likelihood that it will occur are understood is referred to as decision-making under risk . For instance, the lottery selection tasks are frequently employed to examine the nature of decision-making in risky situations.
We make the assumption that there are two or more choices and that each alternative's characteristics are explicitly specified. For each attribute, the CV (coefficient of variation) is configured in case of such decision under risks. And, since in the given question, decision maker is supposed to consider several possible outcomes for each alternative, each with a given probability of occurrence. Thus the decision made will be decision under risk.
Learn more about decision under risk here:
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True since each inch is 4 miles you time 6 by 4
false it says it is 12 miles so you divide that by 4 to get the inches
false if A to B is 24 and B to C is 12 miles there is clearly much more then 4 miles between A and C
Answer:
The probability of drawing a second red card, since the first card is red is 25/51
Step-by-step explanation:
The probability of drawing a second red card since the first Card is red is:
P (R2 | R1) = P (R2 and R1) / R1
So:
P (R2 | R1) = (25/102) / 1/2
P (R2 | R1) = 25/51
Therefore the correct option is option 2.
the probability of drawing a second red card, since the first card is red is 25/51
