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P(A) = 0.2
P(B)= 0.3
Find P(A and B) when events are mutually exclusive.
Step by step
Solved in 2 steps
- True/False: Opportunity cost is the value of the best alternative that must be forgone in order to undertake any activity or economic exchange.Ken’s firm is committed to reducing greenhouse gas by 10 tons per year. The firm’s cost of abating a ton of carbon is shown below: Quantity of Carbon Abated in tons Marginal Cost of Carbon Abatement 1 $3 2 $4 3 $5 4 $6 5 $7 6 $8 7 $9 8 $10 9 $11 10 $12 Ken also has the option to instead pay for a reforestation project that offsets a ton of carbon. Each reforestation project cost $7. What is the best combination of production abatement and reforestation abatement for Ken? How much money does Ken save byusing the reforestation abatement?More than one correct options are possible
- Data in the matrix below indicates COST expected from 3 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability Use every methodAssume you must choose between two mutually exclusive alternatives: A or B. The explicit benefityou receive from alternative A, bA, is equal to $100. And, the explicit cost of choosing alternative A,cA, is $80. Also, the explicit benefit to choosing alternative B, bB, is $120.Air pollution in the country of Gawanza has grown over the last ten years with an increase in manufacturing industries. The government of Gawanza now has a plan to reduce the CO2 emissions into the air by 10% per year over the next 10 years. What do you expect will happen? Group of answer choices The cost and benefits to Gawanza will be lowest in the last few years of implementing this plan. The cost and benefits to Gawanza will be highest in the last few years of implementing this plan. The cost will be the highest and benefits the lowest in year ten.
- The city of Brandberry has planned to reduce the arsenic in its water by 1 part per billion each year over the next 7 years. What do you expect will happen? Group of answer choices The cost and benefits to Brandberry will be lowest in the last few years of implementing this plan. The cost and benefits to Brandberry will be highest in the last few years of implementing this plan. The cost will be the highest and benefits the lowest in year seven.The owner of a furniture factory wishes to install a new production plant, for which he has three location alternatives that are detailed below: Alternative 1: A piece of land located in San Lucas, with a value of Q.1,100,000.00. The construction will have a value of Q.1,055,000.00. The necessary machinery is as follows: Q. 2 disc cutters at Q.50,000.00 each; 1 Router to Q. 40,000.00; 1 Top to Q. 35,000.00; 1 automatic multiple saw at Q.30,000.00. It will also have an expense of Q.30,000.00 for a topographic study, Q.15,000.00 for renting a bulldozer; payroll payment for Q.250,000.00 per month; electric power expense for Q.650.00 per month; drinking water for Q.675.00/month; telephone for Q.800.00/month; tool and equipment Q.50,000.00. Annual sales will be Q.12,450,000.00. Alternative 2: A building and land valued at Q.1,900,000.00, located in zone 7. It has used machinery at a cost of Q.150,600.00; tools and equipment for Q.20,700.00. Electricity payment for Q.695.00/month;…If LRTC is 100q-10(q)(q) +(q)(q)(q) then the LRAC is ......... and the optimal size of the firm is.........