A System Has Four Components in a Series

question 127

Short Answer

A system has four components in a series. What is the reliability of the system?
$$\begin{array} { | l | c | c | c | c|} \hline\text { Component } & 1 & 2 & 3 & 4 \\\hline \text { Reliability } & .90 & .95 & .90 & .99 \\\hline\end{array}$$

---

Definitions:

Marginal Social Benefit

The additional benefit to society from one more unit of a good or service being produced and consumed.

Marginal Social Cost

The additional cost incurred by society as a whole from producing one more unit of a good or service, including both private costs and any externalities.

Pollution

The introduction of harmful substances or products into the environment, causing adverse effects.

External Benefit

A positive effect experienced by a third party due to an economic transaction they were not directly involved in.