A Test Requires That You Answer Either Part a or Part

question 4

Multiple Choice

A test requires that you answer either Part A or Part B. Part A consists of 16 true-false questions and part B consists of 10 multiple-choice questions with one correct answer out of 3. How many different completed answer sheets are possible ?

• A)65,566 sheets
• B) 1,966,080 sheets
• C) 59,081 sheets
• D) 960 sheets
• E) 124,585 sheets

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Definitions:

Producer Surplus

The difference between the amount a producer is willing to accept for a good or service versus what they actually receive.

Consumer Surplus

It is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Market Equilibrium

The state in which market supply and demand balance each other, resulting in stable prices.

Producer Surplus

The difference between the amount a producer is willing to accept for a product versus what they actually receive.