Suppose P(A)= 0

question 151

Multiple Choice

Suppose P(A) = 0.60,P(B) = 0.85,and A and B are independent.The probability of the complement of the event (A and B) is:

• A) .4 * .15 = .060
• B) 0.40 + .15 = .55
• C) 1 - (.40 + .15)= .45
• D) 1 - (.6 * .85)= .490

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Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a particular price.

Maximum Price

The highest possible price that can be charged for a good or service, often regulated by law.

Equilibrium Price

The price at which the supply of an item equals the demand for that item within a market, resulting in economic equilibrium.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given time.