365 ht, Library, and ng Resources soft Teams ngs soft Teams s "Marble Madness" is a local carnival game, costing $2. There are 100 total marbles in a bag: 2 red, 8 orange, 10 yellow, 30 green, 30 blue, and 20 black. If a red marble is pulled, you win $6, an orange marble wins $4, and a yellow marble wins $2. A green, blue, and black marble result in a loss of the $2 cost to play. What is the expected value of a marble pull? Provide your answer below

365 ht, Library, and ng Resources soft Teams ngs soft Teams s "Marble Madness" is a local carnival game, costing $2. There are 100 total marbles in a bag: 2 red, 8 orange, 10 yellow, 30 green, 30 blue, and 20 black. If a red marble is pulled, you win $6, an orange marble wins $4, and a yellow marble wins $2. A green, blue, and black marble result in a loss of the $2 cost to play. What is the expected value of a marble pull? Provide your answer below

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 11SCQ: The state of Colorado requires oil and gas companies who use fracking techniques to retune the land...

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Becky and Sarah are sisters 1who share a room. Their room can easily get messy, and their parents am always telling them to tidy it. Here are the costs and benefits to both Becky and Sarah, of taking the time to clean their room: If both Becky and Sarah clean, they each spends two hours and get a clean room. If Becky decides not to clean and Sarah does all the cleaning, then Sarah spends 10 hours cleaning (Becky spends 0) but Sarah is exhausted. The same would occur for Becky if Sarah decided not to cleanâ€”Becky spends 10 hours and becomes exhausted. If both girls decide not to clean, they both have a dirty room. What is the best outcome for Becky and Sarah? What is the worst outcome? (It would help you to construct a prisoners dilemma table.) Unfortunately, we know that the optimal outcome will most liker not happen, and that the sisters probably will choose the worst one instead. Explain what it is about Beckys and Sarahs reasoning that will lead them both to choose the worst outcome.
What is die difference between accounting and economic profit?
The state of Colorado requires oil and gas companies who use fracking techniques to retune the land to its original condition after the oil and gas extractions. Table 12.9 shows the total cost and total benefits (in dollars) of this policy. Calculate the marginal cost and the marginal benefit at each quantity (acre) of land restored. See Production. Costs and Industry Structure if you need a refresher on how to calculate marginal costs and benefits. If we apply marginal analysis, what is the optimal amount of land to be restored?
What is an externality?
Urban transit systems, especially those with rail systems, typically experience significant economies of scale in operation. Consider the transit system data in Table 11.4. Note that the quantity is in millions of riders.
HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?
2. show complete solution pls help
1. Which of the following statements is false?a) A high-efficiency organisation would want to have fewer storage facilities to increaseresponsiveness but this practice too is known to reduce responsivenessb) Having many production sites increases cost and reduces efficiency but responsiveness tocustomer demands increases because of proximityc) A highly responsive organisation for example would want to have many storage facilitieslocated nearer to customers but this practice reduces efficiencyd) None of the above
1. How would you define “engineering economy”? 2. Explain why differences between alternatives are of major interest in engineering economystudies. 3. What is the difference between a monopoly and an oligopoly? Give at least one example ofeach. SUBJECT: ENGINEERING ECONOMY
whats the points for 1) 2) 3)
64. (This problem assumes knowledge of the basic rulesof baseball.) George Lindsey (1959) looked at boxscores of more than 1000 baseball games and foundthe expected number of runs scored in an inning foreach on-base and out situation to be as listed in the fileP09_64.xlsx. For example, if a team has a man on firstbase with one out, it scores 0.5 run on average untilthe end of the inning. You can assume throughout thisproblem that the team batting wants to maximize theexpected number of runs scored in the inning.a. Use this data to explain why, in most cases,bunting with a man on first base and no outs isa bad decision. In what situation might buntingwith a man on first base and no outs be a gooddecision?b. Assume there is a man on first base with one out.What probability of stealing second makes an attempted steal a good idea?
1.Factory does not insta scrubber. -armer uses south field croc Damage (S= 120 Farmer cost ($=0 Factory Cost($=0 Social cost =120 2. -actor does not install scrubber Farmer rents west field Crop Damage (S = 50 Farmer cost ($=20 Factory Cost$=C SocIal cost =/( 3.Factory installs scrubber, Farmer uses south field Crop Damage ($) = 35 Farmer cost ($=0 Factorv Cost ($=40 Social cos 4.Factory installs scrubber, Farmer rents west field Crop Damage ($=0 Farmer cost (S\=20 Factorv Cost $=40 Social cost = 60 1. Now the farmer has a right to pollution abatement, creating a lega duty for the factory to install the scrubber no additional crop damages will be paid if the factory fulfills the duty to install the scrubber). What is the factory's willingness to pay to continue polluting without the scrubber? Why? 2. Now the farmer has a right to pollution abatement, creating a legal duty for the factory to install the scrubber (no additional crop damages will be paid if the factory fulfills the duty…