Which Statement Is CORRECT

question 82

Multiple Choice

Which statement is CORRECT?

• A)Resource scarcity is not a major concern in the rich countries of the world.
• B)Most opportunity costs are zero.
• C)An economic situation is in equilibrium when no individual would be better off taking a different action.
• D)Some very talented,skilled individuals who can do everything better than most people should not specialize in doing any one thing.

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Definitions:

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space when these events occur with a known constant mean rate and independently of the time since the last event.

Poisson Random Variable

Reflects the number of times a specified event occurs within a fixed interval, assuming events occur independently and at a constant rate.

Poisson Probabilities

The probability distribution that measures the probability of a given number of events happening in a fixed interval of time or space, assuming these events occur with a known constant mean rate and independently of the time since the last event.

Classified Department

A division within an organization or publication that deals with categorized or sorted information, often in the context of classified ads or internal classification.