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John bets 50 on red and Mary bets 50 on black. what is the probability that both John and Mary will loose?
(a) What is the likelihood the sample mean is at least $30.00? Answer: 0.0016
(b) What is the likelihood the sample mean is greater than $26.50 but less than $30.00?
(c) Within what limits will 90 percent of the sample means occur?
Sample mean ? and ? (couldn't figure out the answer here).
What are economies of scale, diseconomies of scale, constant economies of scale, external economies, and external diseconomies?
How is a natural monopoly different from a regular monopoly?
How are natural monopolies regulated?
How could you best describe “excess capacity” that firms may experience?
an excess or deficiency of electrons
an excess or deficiency of protons
2. What is the difference between the long run and the short run in economic analysis?
3. What is the difference between the short run supply curve and the long run supply curve of a firm?
4. What is the difference between average cost and marginal cost?
5. Under what conditions would marginal cost fall or rise?