Answer:
The probability that neither of both stocks increase is 0,14
Explanation:
The Complement Rule states that the sum of the probabilities of an event and its complement must equal 1.
The data we have is the probability that Stock A or B increase, we are looking for the probability that neither occur, so we have to use the complement of each one.
Complement of Stock A =1-0.54=0.46
Complement of Stock B =1-0.68=0.32
If we want to know the probability of both events happening we have to multiply both complements.
Probability that neither of these two events will occur= 0.46 x0.32= 0,1472
Answer:
The correct answer to the following question is option D) everyone receives different level of satisfaction from from the same good or services.
Explanation:
Utility can be defined as a measurement of satisfaction levels that a consumer experiences from the consumption of goods and services. From the above given options only D is correct as every one experiences different level of satisfaction from same good or services. Economists measures utility with a unit they refer to as util. All products doesn't produce same level of satisfaction .
Answer:
Both supply and demand are elastic.
Explanation:
Demand or supply elasticity is defined as elasticity or responsiveness with more than one numerical value, which indicates their high response to the change in price.
Elastic demand: It is the percentage change in quantity demanded due to the change in price in absolute value of the product.
The elasticity of supply: It is defined as the response of the quantity of a good supplied to a change in the price of the good. Likely to be positive in output.
FORMULA; Elasticity of supply= 
Due to the decrease in the supply of goods in the market, it leads to the scarcity of goods, therefore there is an increase in the price of goods.
Even though there was a miscommunication in the sale, Jones did not know that the stone was a diamond before selling it and Smith can easily say he did not know it was either. If Jones had taken the stone and received other opinions on it, he may have gotten more money but because he sold the stone, there is nothing he can take action on Smith for.
