THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 113

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
According to the Internal Revenue Service,80% of all tax returns lead to a refund.A random sample of 100 tax returns is taken.
-What is the probability that the sample proportion exceeds 0.85?

Understand the concept of natural monopoly and the rationale for government policies towards such monopolies.

Comprehend the principles and implications of price discrimination in monopolistic and imperfectly competitive markets.

Identify the conditions necessary for price discrimination to occur and its effects on producer and consumer surplus.

Analyze the relationship between market structures, price setting, and the ability of firms to engage in price discrimination.

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Definitions:

Douglas Fir

A type of evergreen conifer species, notable for its significant role in the timber industry and its habitat, primarily in North America.

Poplar

A type of fast-growing tree found in temperate regions, known for its soft wood used in various applications.

Oak

A group of trees or shrubs in the genus Quercus, known for their durable wood and significance in various habitats.

Hydrogen Fuel Source

A clean energy option using hydrogen gas as fuel, producing water as the only emission when consumed in a fuel cell.