Find the Probability Distribution of X

question 19

Short Answer

Find the probability distribution of X.

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Definitions:

Marketplace

A marketplace is a physical or virtual space where buyers and sellers come together to exchange goods, services, or information.

Socially Optimal Quantity

The level of output where the marginal benefit to society of consuming another unit equals the marginal cost of producing it, leading to the most efficient allocation of resources.

Positive Externality

A benefit that is enjoyed by a third-party as a result of an economic transaction or activity.

Subsidy

A financial aid provided by the government or a public body to reduce the cost or price of goods and services, encouraging production or consumption.