For Computers and Other Business Equipment, Small Changes in Business

question 28

Multiple Choice

For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment, and the long-run income response tends to be smaller. Industries that face demand behavior of this type are known as:

• A) natural monopolies.
• B) cartels.
• C) cyclical industries.
• D) constant-cost industries.

Differentiate between probability histograms, density curves, and other graphical representations of data.

Interpret events and outcomes in real-world probability scenarios.

Understand the properties of the standard Normal distribution.

Calculate probabilities related to Z-scores in a Normal distribution.

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