Rick gave his son $100 to buy food and drinks. His son returned with $25.50 in change. Therefore the amount spent was
$100 - $25.50 = $74.50.
Let
x = number of hot dogs bought (at $3.50 per hot dog).
y = number of milk shakes bought (at $8 per milk shake).
There were 8 orders of soda at $5 per soda.
The total order is $74.50, therefore
3.50x + 8y + 8*5 = 74.50
Simplify to obtain
8y = 74.5 - 3.5x
y = 4.3125 - 0.4375x
We must have whole numbers (integers) for x and y.
Create a table that varies x from 0 to 8, and look for y to be an integer, as shown below.
x y
--- -------
0 4.3125
1 3.8750
2 3.4375
3 3
4 2.5625
5 2.1250
6 1.6875
7 1.2500
8 0.8125
Because we cannot have fractional values for either x or y, the solution is x=3, y=3
Answer:
3 hot dogs, 3 milk shakes, and 8 sodas.
Standard:
Wool required = 2 yard^2 per coat
Cost = $44/ yard^2
Therefore,
Total standard cost per coat = wool per coat * cost per yard squared = 2*44 = $ 88 per coat.
The correct answer is C.
Answer:
1.
c. Many
d. Differential
c. Monopolistic Competition
2
b. Few
c. Identical
a. Oligopoly
3
a. One
a. Unique
d. Monopoly
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms.
An example of a monopoly is a utility company
It is only the drug company that is permitted to sell the drug. So, it is the only firm in the industry. Also, it is the only firm that offers experimental AIDS drug, so its product is unique.
An Oligopoly is when there are few large firms operating in an industry. In the cab industry, it is a duopoly that exists. This is a type of oligopoly where there are only two firms in the industry. Consumers do not care about the cabs they enter or the different services offered by the companies, so, the product is identical
Answer: a. less than fully rational; behavioral biases
Explanation: Information processing errors consist of forecasting errors
, overconfidence and conservatism which can lead investors to misestimate the true probabilities of possible events or associated rates of return; and assuming information processing was perfect, individuals would tend to less-than-fully rational decisions due to behavioral biases as confirmed by several studies.
