A vendor specializing in outdoor gear offers customers three ways to place orders for home delivery. Customers can place orders either in the store, online, or via telephone using a catalog. Of the orders, one-half are made online with one-quarter each made in stores or via telephone. Of the online orders, 40% are only for clothing, 30% are only for camping supplies, and 30% are for both. For orders placed in the store, all are for clothing (to order a size that is not in stock). Among orders placed via telephone, 60% are for clothing alone, 20% are for camping supplies alone, and 20% are for both clothing and camping supplies. 13 "Mom? Dad? I’m Home," Business Week, May 5, 2006.
(a) Organize these probabilities as a probability tree or probability table. Explain why you picked a tree or a table.
(b) What’s the probability that the customer orders clothing, either by itself or in combination with camping supplies?

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency, government intervention can improve overall welfare o markets allocate goodseffectively

The recognition of which of the following expenses exemplifies the application of matching expenses with the revenues they produced? multiple choice(a) cost of goods sold. (b) advertising.(c) president's salary.(d) research and development.