Refer to the graph for Questions 4 and 5. The economy depicted in the graph is experiencing a(n)a. contractionary gap.b. recessionary gap.c. inflationary gap.d. demand gap.e. supply gap.
Monday March 7 th The Bayesian Affair You have a talent for writing romantic thriller novels. Your latest price of work - titled The Bayesian Affair - promises to be successful. You have the option to either publish the novel yourself or through a publisher. The publisher is offering you $20,000 for signing the contract. If the novel is successful, it will sell 200,000 copies. If it isn’t, it will sell only 10,000 copies. The publisher pays $1 royalty per copy. If you publish the novel yourself, you will incur an initial cost of $120,000 for printing and marketing, but each copy will net you $2. At present you believe that there is a 70% chance that the novel will be successful. Suppose you can contact a literary agent to give his expert opinion on t
