In 2022-23 each American household viewed an average of 48 h…
In 2022-23 each American household viewed an average of 48 hours and 32 minutes of television weekly.Each individual viewed an average of 30 hours and 20 minutes per week.Those viewing the most television per week (43 hours and 31 minutes) were women over age 55.Those viewing the least television per week (21 hours and 10 minutes) were children ages 6 to 11.Households earning under $30,000 a year watched an average of 52 hours and 57 minutes a week.Households earning more than $60,000 a year watched an average of 47 hours and 13 minutes a week.Determine whether A, B, or C best describes the following generalization drawn from these facts.( A ) reasonable ( B ) wrong ( C ) insufficient facts to knowWealthier households are more likely to watch television than are households that are less wealthy.
Read DetailsInformation for questions 38-40 In the online market for vin…
Information for questions 38-40 In the online market for vintage vinyl records, some records are mint and some have scratches. Consumers value mint records at $40, and records with scratches at $10, but they cannot tell which type they are buying before buying it, receiving it, and inspecting it. Initially, buyers estimate that the proportion of mint records on the market is 75%, so if they buy a record, they estimate the probability of getting a mint one at 75%. Sellers, of course, are able to tell which type of record they are selling. Since consumers (the buyers) cannot distinguish among the two types of record, there will be a single price in the market, P (there is no reason to offer different prices for records that are indistinguishable). At any price P, mint record owners will want to sell quantity: QM = – 40 + 5 P of records, and scratched record owners will want to sell quantity QS = – 60 + 20 P of records. In other words, these are their supply curves. Consumers, even though they cannot distinguish between the two types of records, know these supply curves. Only the exact answers are accepted, please make sure of your reasoning and your work before submitting your answer. Suppose that your answer to the previous question was 20. At this price, P=20, what percentage of vinyl records for sale in this market will be mint records? Since the answer is a percentage, enter a number between 0 and 100 (0 if no mint records are for sale, 100 if only mint records are for sale, or any number in between, for you to calculate).
Read Details