Explain probability, Suppose that the probability that a

Explain probability

Assignment Help Microeconomics

Reference no: EM13175336

Suppose that the probability that a used bike is a lemon (low quality) is 'p' and the probability that a used bike is a plum (high quality) is '1-p'. If a buyer is willing to pay $H for a plum used bike and $L for a lemon used bike,

what is the buyer's willingness to pay for a used bike?

Reference no: EM13175336

Questions Cloud

Define the concentration ratio : what is the concentration ratio for the industry x and y. (number of firm) ----(industry x) ------ (industry y) (1) -----------------------8,750-------- --------1,750 (2) -----------------------7,500---------------- 1,725

Why is the buffer most effective : Thus, as long as the concentrations of HA(aq) and A-(aq) are not consumed, the pH change is minimal compared to addition to a non-buffer solution. Why is the buffer most effective when pH = pKa?

What will the equilibrium concentrations : what will the equilibrium concentrations of all 4 substances be? FAlways start by writing expression for Keq FThink about what will happen. Which concentrations will increase? Decrease?

What is your prediction for the next reaction : what is your prediction for the next reaction?

Explain probability : Suppose that the probability that a used bike is a lemon (low quality) is 'p' and the probability that a used bike is a plum (high quality) is '1-p'. If a buyer is willing to pay $H for a plum used bike and $L for a lemon used bike,

What sign is h for endothermic reactions : Change in heat content We write H = Hfinal - Hinitial or for chemical reactions H = Hproducts - Hreactants Given this equation, What sign is H for exothermic reactions? What sign is H for endothermic reactions?

Record the transactions on the books : Prepare a Statement of Changes in Net Assets for the Employees Retirement Fund for the Year Ended June 30, 2012 and prepare a Statement of Net Assets for the Employees' Retirement Fund as of June 30, 2012.

Explain the origin of the name dimer adatom stacking fault : Explain how this model can be used to reduce the number of dangling bonds from 49 (unreconstructed) to 19 (constructed). B. Explain the origin of the name dimer adatom stacking fault.

Who has more global reach, the company or its competitor : What differentiates the company's products from its competitor's in terms of utility? What differentiates the company's products from its competitor's in terms of packaging, size, and availability?

User Account

All Pages