Risk and Uncertainty of Probability Function

If estimating the nature of a probability function for an event entails considerable guesswork since experience along with the event is more sporadic or rare which any estimates are extremely speculative, in that case we confront a concept Frank Knight called: (1) risk. (2) uncertainty. (3) the veil of ignorance. (4) meta-probabilities. (5) stochasticity.

Can someone explain/help me with best solution about problem of Economics...

View Complete Question

Related Questions in Microeconomics

Q : Discounted by an appropriate interest

A fundamental principle of finance is that the net cash flows expected by an investment are: (w) all future revenues expected by the investment minus the purchase price of the capital. (x) negatively associated to the interest rates related with borrowing investment f

Q : Vietnam divided into two different

Why Vietnam divided into two different nations?

Q : Loss in social welfare with quantity

When pharmaceutical manufacturers conspire to generate only Q1 penicillin, in that case the: (i) purely-competitive firms which produced penicillin would experience economic losses. (ii) resulting excessive antibiotic treatments would produce strains of dru

Q : Define break-even price Break-even

Break-even price: This is the price at which firms form zero normal profit.

Q : Annual total costs When Nostalgia

When Nostalgia Corporation maximizes profit in its production of Silver Screen DVDs, in that case its annual total costs will be around: (i) $45 million. (ii) $65 million. (iii) $85 million. (iv) $105 million. (v) $125 million. <

Q : Most effective excise taxes during

Excise taxes upon cigarettes are most effective during reducing: (1) smokers' discretionary income for other goods. (2) cigarette production. (3) cigarette companies' profits. (4) consumption of snuff and chewing tobacco.

Q : Economists conceive of any resource

Economists can’t conceive of any resource or product for which the: (i) Price elasticity of demand is zero (0) and the demand curve is vertical. (ii) Price elasticity of supply is zero (0) and supply curve is vertical. (iii) Income elasticity of

Q : Recognizing market demand for a good I

I have a problem in economics on recognizing market demand for a good. Please help me in the following question. To determine the market demand for a good, add up the: (1) Quantities supplied at each and every price. (2) Quantities demanded at each and every price. (3

Q : Determine income in Loren curve When

When one family held ALL the income it would be shown upon the Lorenz curve as: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.

Q : Problem on Economic Capital Your

Your construction company just bought a bulldozer on credit. From the viewpoint of your company, this bulldozer is an illustration of: (i) Liability. (ii) Fixed costs. (iii) Net variable cost. (iv) Capitalization. (v) Economic capital.

Discover Q & A

Leading Solution Library

Avail More Than 1436114 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1951527
Asked

3,689

Active Tutors

1436114

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment