Suppose That a Person Groups 18 Objects into Three Groups

question 113

Multiple Choice

Suppose that a person groups 18 objects into three groups in such a way that ​
6 objects are in group A.
6 objects are in group B.
7 objects are in group C.
3 objects are in both group A and group B.
5 objects are in both group B and group C.
4 objects are in both group A and group C.
2 objects are in all three groups.
​
What is the probability that an object chosen at random has been placed in group A or group B?
​

---

Definitions:

Purely Competitive Market

A market structure characterized by a large number of small firms, all selling identical products, with no single firm able to influence the market price.

Total Cost

The sum of all the expenses incurred in the production of a good or service, including both fixed and variable costs.

Economic Profit

A rephrasing of economic profits; it represents the financial gain exceeding the total costs, considering both explicit and implicit costs.

Per-unit Profit

The profit earned by a company for each unit of product sold, calculated by subtracting the cost of producing one unit from the selling price of one unit.