A good x is inferior, but it is not a Giffen good. If the substitution effect due to an increase in pris -2, which of the following could possibly be the income effect? (a) -3 (b) −1 (c) 0 (d) 1 (e) 3
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- If P(A) =0.55 and P(A and B) =0.22. A and B are independent, find P(B)=?A business manager determines that t months after production begins on a new product, the number of units produced will be P thousand, where 91²+81 P(1) = (1+4) ². What happens to production in the long run?If P(A)= 0.3 and P(B)=0.5, then what is P(A) and P(B) ?
- In a forest, there are lion, rabbit, and squirrel populations. In the wilderness, there are no other animals. The following details are available: - With a coefficient of 2/year, the lion population declines, and it grows when the lions have access to food (squirrel and rabbit). Rabbits contribute 0.1 year per rabbit to the lion population, but squirrels contribute 0.5 year per squirrel to the lion population. -When new squirrels are born, the population grows at a rate of 7 squirrels per one squirrel. When a lion appears, as well as when there is competition for food sources with other squirrels, it drops. The competition coefficient is one. -The squirrel population grows at a pace of 7 squirrels per one squirrel when new squirrels are born. It lowers when there is a lion encounter, as well as when there is rivalry for food sources with other squirrels. The coefficient of competition is one. Calculate the equilibrium point using Gauss-Jordan Elimination only for the case where the…A project management consultant estimated that if a particular project was completed, t years after completion, N thousand persons would benefit directly from the project, where N(t) =- 4.5t² + 16t, 0sts 10 For what value of t, will the largest number of people receive direct benefits?IfP(A =0.3,P(B)=0.4andP(A and B)=0.7areAandBME?
- If P(A) = 0.4 and P(B) = 0.3, Find P(A or B) if A and B are independent.2. p (x) = 2 x – 3 x-6 x³+9 x? + 8 x- 12, by x+ %A rare species of insect was discovered in the rain forest of Costa Rica.Environmentalists transplant the insect into a protected area. The population of the insect tyears after being transplanted is P(t) = 45(1 + 0.6t)3+0.02t . a. What was the initial population?b. What will the population be after 10 years?c. What will the population be after 10 + h years?