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Given the Following Code and Assuming List Is an Int

question 23

Multiple Choice

Given the following code and assuming list is an int array that stores positive int values only. Which of the following tasks is accomplished by this code? int foo = 0;
For (int j =0 ; j < list.length; j++)
If (list[j] > foo) foo = list[j];

Perform rounding of numbers to specified places.
Perform basic arithmetic operations like multiplication, division, and finding square roots.
Identify common factors and multiples.
Understand and perform calculations involving bases and exponents.

Definitions:

Perfectly Competitive

A market configuration where numerous small businesses are present, with each selling identical items, coupled with the absence of entry or exit hurdles and complete transparency of information among consumers and vendors.

Optimal Output

The level of production that results in the highest possible profit for a firm, determined by the point where marginal cost equals marginal revenue.

Short-Run Costs

Expenses that vary directly with the level of output in the short term, where at least one input is fixed.

Economic Profit

A firm's total revenue minus its explicit and implicit costs, representing the additional benefit above the normal rate of return.

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