Pacific cruise lines is a defendant in litigation involving a swimming accident on one of its three cruise ships. required: 1. the likelihood of a payment occurring is probable, and the estimated amount is $1.11 million. 2. the likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.91 to $1.11 million. 3. the likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.11 million. 4. the likelihood of a payment occurring is remote, while the estimated potential amount is $1.11 million.

Afirm’s production function is represented by q(m,r) = 4m 3/4r1/3, where q denotes output, m raw materials, and r robots. the firm is currently using 6 units of raw materials and 12 robots. according to the mrts, in order to maintain its output level the firm would need to give up 2 robots if it adds 9 units of raw materials. (a) true (b) false

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively

Describe what fixed costs and marginal costs mean to a company.