A business with 100 patrons is better than a business with 30 patrons. A salon or stylist needs data and information to forecast and predict with some certainty. An Barbershop has Hair Services with 8 patrons tomorrow. From past experience the Barbershop Owner knows that the probability of making a complete cut on any service is one out of five. Consider the rules of probability, what is the likelihood that the Barbershop Owner will sell a cut to two of the eight patrons?

The simple interest in a loan of $200 at 10 percent interest per year is

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.