Phonesmart is having a sale on Bananas. If you buy one Banana at full price, you...

Phonesmart is having a sale on Bananas. If you buy one Banana at full price, you get a second at half price. When couples come in to buy a pair of phones, sales of Apricots and Bananas are equally likely. Moreover, given that the first phone sold is a Banana, the second phone is twice as likely to be a Banana rather than an Apricot. What is the probabilty that a couple buys a pair of Bananas?

Please I need a thorough detailed explaination of the answer. Thank you !

Expert Solution

orchestra answered 2 years ago

A local department store is having a BOGOHO (Buy One, Get One Half Off) sale. The...

A local department store is having a BOGOHO (Buy One, Get One Half Off) sale. The manager wants a program that allows salesclerks to enter the prices of two items. The program should calculate and display the total amount the customer owes. The half-off should always be taken on the item having the lowest price. If the items cost $24.99 and $10, the half-off would be taken off the $10 item. If both prices are equal, take the half-off on...

You will buy a new car today. You will borrow the full price of the car. You will...

You will buy a new car today. You will borrow the full price of the car. You will get a FIVE year loan that will be paid back annually. It will take you the full FIVE years to pay back the loan. (In other words, you will not pay it off early.) You will pay back the same amount every year (an annuity). The auto dealership offers you 3 choices. 1) Pay $30,000 for the car at 0% interest for the FIVE years. 2) Pay $28,000 for the car at...

The price elasticity of bananas is -0.8 and the cross price elasticity of bananas with respect...

The price elasticity of bananas is -0.8 and the cross price elasticity of bananas with respect to the price of berries is 0.5. If the price of bananas increases by 10 % and the price of berries falls by 4 %, what will happen to banana demand? a. A 10 percent increase b. A 10 percent decrease c. A 16 percent increase d. A 5 percent increase e. None of the above

You plan to buy a house in July 2019. The sale price is $350,000. You need...

You plan to buy a house in July 2019. The sale price is $350,000. You need to pay 20% down payments and borrow additional 80% from Wells Fargo with a traditional 15-year, 3.6% fixed-rate mortgage loan. You are expected to pay an equal MONTHLY payment starting from August 2019 for a total of 15 years. (1) Calculate your expected monthly mortgage payment. (2) Develop the 2019~2034 amortization table for your mortgage loan. (1) When you prepare your 2019 tax filing,...

Suppose the industry demand curve of bananas in the banana industry is given by equation p=10−qd...

Suppose the industry demand curve of bananas in the banana industry is given by equation p=10−qd .....(1) And the supply curve is given by 2 p = qs .............(2) There is an equilibrium price p* for which qd = qs = q* The equilibrium price in this market is $5 and quantity is 5. Suppose a price ceiling of $2 is imposed on this market The area of a right triangle is 12 Base Height ; The area of a...

a. You have 2 goods, apples, and bananas, that you are buying. The price of apples...

a. You have 2 goods, apples, and bananas, that you are buying. The price of apples is $2.00 each and the price of bananas is $1.00 each. You have $10.00 to spend. Draw a budget line for these two products. Fill the table below to help you make this graph. b. Can you afford 4 apples and 4 bananas? Show why or why not. Apples Bananas Cost of Apples Cost of Bananas Total Cost 0 10 0 10 $ 10.00...

You buy one call and one put with a strike price of $60 for both. The call...

You buy one call and one put with a strike price of $60 for both. The call premium is $5 and the put premium is $6. What is the maximum loss from this strategy? [Using positive number for profit, and negative number for loss]

Suppose the world price of banana is P* and Ecuador decides to offer its banana exporters...

Suppose the world price of banana is P* and Ecuador decides to offer its banana exporters an export subsidy $s/unit. Use a graph of domestic demand- and supply-curves and: (a) show the effect of the export subsidy on Ecuador's banana price, domestic supply, domestic demand, export quantity, consumer surplus, producer surplus, and government expenditure assuming Ecuador is a small country; (b) identify Ecuador's net welfare change as a result of the export subsidy assuming Ecuador is a small country; (c)...

Explain how a demand curve shows how demand for bananas changes with price of bananas. (Minimum...

Explain how a demand curve shows how demand for bananas changes with price of bananas. (Minimum 50 words) b) Examine with respect to the demand for bananas, which of the following would cause (1) movement along the demand curve or (2) a shift of the demand curve? i).Consumers’ incomes drop. ii).The price of bananas rises. iii).The price of oranges, a substitute product, falls. c) Using supply demand analysis show what will be the change in equilibrium when there is a...

#1 On June 3, Bridgeport Company sold to Chester Company merchandise having a sale price of...

#1 On June 3, Bridgeport Company sold to Chester Company merchandise having a sale price of $5,600 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $92, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Prepare journal entries on the Bridgeport Company books to record all the events noted above under each of...

Question