If a and B Are Mutually Exclusive Events with PA)

question 88

Multiple Choice

If A and B are mutually exclusive events with PA) = 0.8 and PB) = 0.6, then PA ∩ B) =

• A) 0.48
• B) 0.92
• C) 0.20
• D) 0.00

---

Definitions:

Marginal Costs

The upsurge in full cost that comes from the generation of one additional unit of a good or service.

Short Run

A period in economic analysis where at least one input is fixed, focusing on immediate effects and adjustments in production or operations.

Marginal Revenue

The increased revenue a company achieves from the sale of an additional good or service unit.

Purely Competitive

This describes a market structure where many firms sell identical products, and no single seller can influence the market price.