Please answer this: I have a new situation: City D's mayor wants to invite more businesses in the city. Three firms, firm A, firm B, and firm C, took advantage of this opportunity. Firm A does not require large initial costs, but firm B and firm C require large initial costs. Firm B managed to increase its market share, but firm C failed to increase its market share. But I can use this background: A firm with high fixed costs requires a large number of customers in order to have a meaningful return on investment. This is where economies of scale become important. Since each firm has large initial costs, as the firm gains market share and increases its output the fixed cost (what they initially invested) is divided among a larger number of customers. Therefore, in industries with large initial investment requirements, average total cost declines as output increases over a much larger range of output levels. What is an answer for this question: Would firm C's average total cost decline or not decline?
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Answer: not decline

Please answer this: I have a new situation: John and Keith are playing a decision making game. They have three decisions to make decision A, decision B, and decision C. Decision A and decision B have certain outcome, but decision C's outcome is uncertain. John would apply optimal decision making process while Keith would rather rely on his hunches. But I can use this background: An optimal decision is a decision that leads to at least as good a known or expected outcome as all other available decision options. It is an important concept in decision theory. In order to compare the different decision outcomes, one commonly assigns a utility value to each of them. If there is uncertainty as to what the outcome will be, then under the von NeumannMorgenstern axioms the optimal decision maximizes the expected utility (a probabilityweighted average of utility over all possible outcomes of a decision). What is an answer for this question: In respect to decision C, would John's strategy most likely maximize or not maximize the expected utility?
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Answer: maximize

Please answer this: I have a new situation: Tom and Jerry are visiting the doctor today to have blood work done as part of a regular check up. After working on Tom's blood, the doctor tells him that his red blood cells should have no issue traversing his blood vessels. Jerry is told that his red blood cells are struggling to pass through his blood vessels and the doctor would like to run some more tests to see what the issue might be. But I can use this background: Another example of incomplete dominance is with sickle cell anemia, a disease in which a blood protein called hemoglobin is produced incorrectly. This causes the red blood cells to have a sickle shape, making it difficult for these misshapen cells to pass through the smallest blood vessels. A person that is homozygous recessive ( ss ) for the sickle cell trait will have red blood cells that all have the incorrect hemoglobin. A person who is homozygous dominant ( SS ) will have normal red blood cells. What is an answer for this question: Is Tom's hemoglobin being produced correctly or incorrectly?
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Answer:
correctly