Question the new england patriots are currently a 95 point, Ask an Expert

Economics

Question: The New England Patriots are currently a 9.5 point favorite over the New York Jets in their upcoming match this weekend. Suppose the bookmaker offers 11 to 10 odds for bets on this game (so a person must pay $11 to bet $10).

a. If you bet on the Patriots and they win by 7 points, will you win or lose the point spread bet?

b. Suppose there are 100 people betting on each team and the Patriots win by 14 points. Show how much the winners receive, how much the losers pay, and the profit (or loss) of the bookmaker.

c. Now suppose there are 50 people betting on the New York Jets and 150 people betting on the Patriots. Show how much the winners receive, how much the losers pay, and the profit (or loss) of the bookmaker in this case (the Patriots still win by 14 points).

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92634723

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question suppose inputs are only substitutable at two units

Question: Suppose inputs are only substitutable at two units of labor for every one unit of capital and one unit of output is produced for every unit of labor or 1/2 unit of capital. What would be the equation for the pr ...

Question the market demand for stuffed rabbits is q 2600 -

Question: The market demand for stuffed rabbits is Q = 2,600 - 20P, and the government intends to place a $4 per bunny tax on stuffed rabbit purchases (tax collected from sellers). Calculate the tax incidence and deadwei ...

Question 1 what is an industry cluster and what does a

Question: 1 ) What is an industry cluster and what does a cluster mean for employment, services, infrastructure? 2) What is "an incentive based economic development strategy"? The response must be typed, single spaced, m ...

Question - polyas four-step problem-solving process is a

Question - Polya's four-step problem-solving process is a general and systematic process for solving problems. Use this process to solve an application problem. Describe each step of the problem-solving process for the p ...

Question the english and the vickrey auction are

Question: The English and the Vickrey auction are strategically equivalent, and the revenue for the seller is the same. Yet, in terms of the information received by the seller/auctioneer they are different. What is this ...

Question compare and contrast two methods for collecting

Question: Compare and contrast two methods for collecting job analysis data, and then outline the pros and cons of each method. Provide specific examples to support your rationale. Evaluate the degree to which the compet ...

The google play and apple app stores each have over a

The Google Play and Apple App Stores each have over a million apps available for download. One of the top selling apps on the Google Play store is Minecraft. Suppose Minecraft previously received 5,800 downloads per day ...

Question a risk averse person with a Question: A risk averse person with a

Question: A risk averse person with a von-Neumann-Morgenstern utility index of: U = ln(Y) has a 20% chance that a disaster will reduce her regular income of $100,000 to zero. She can buy insurance at a rate of $0.40 per ...

Question - price elasticity cross-price elasticity and

Question - Price Elasticity, Cross-Price Elasticity, and Income Elasticity in the Market for Alcoholic Beverages Many public policy issues are related to the consumption of alcoholic beverages. These issues include under ...

Question table shows how the average costs of production

Question: Table shows how the average costs of production for semiconductors (the "chips" in computer memories) change as the quantity of semiconductors built at that factory increases. a. Based on these data, sketch a c ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert