Q3n the market for a good, there is an increase in demand and a decrease in supply. You would expect the equilibrium price to _____ and the equilibrium quantity sold to ____.

no change : increase

increase :uncertain increase :

no change uncertain : increase

In the market for beef, a severe drought increases the price of corn (animal food). You would expect the equilibrium price of beef to _____ and the equilibrium quantity sold to ____. increase : decrease decrease : decrease increase : increase decrease : increase In the market for pizza, five new restaurants open. You would expect the equilibrium price to _____ and the equilibrium quantity sold to ____.

increase : increase

increase : decrease

decrease : increase

decrease : decrease

In the market for pizza, the price of hamburgers (a substitute for pizza) has gone up. You would expect the equilibrium price of pizza to _____ and the equilibrium quantity of pizza sold to ____.

increase : increase

decrease : increase

decrease : decrease

increase : decrease

The random variables X and Y have a discrete joint distribution with joint probability function: c(x +2y) x =0,1,2 and y = 0,1,2 P(X = x , Y = y) = otherwise where c is an appropriate constant. Determine the conditional distribution of X given Y =y for each value of y . [3] It is subsequently discovered that the random variables, X and Y , are in fact continuous over the ranges 00 (a) Show that the moment generating function of X is given by: Mx(t) = (1-t2)-1 for t