Nancy owns a gas station in a small town. her friend chuck owns the only other station in the community. one day, nancy and chuck get together and decide to drastically raise their prices. this is an example of

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?

Why does the downward-sloping production possibilities curve imply that factors of production are scarce?

Suppose a jury of 12 people is chosen from the above pool, and this jury hears a case and discusses the verdict; x is the number who think the defendant is guilty.