Which Would Be the Least Likely Result of a Price

question 305

Multiple Choice

Which would be the least likely result of a price ceiling imposed in the market for rental cars?

• A) slow replacement of old rental cars with new ones
• B) poor maintenance of the rental cars
• C) dirtier exteriors and interiors of rental cars
• D) free gasoline given to people as an incentive to rent a car

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Definitions:

Density Function

A mathematical function that describes the probability distribution of a continuous random variable, indicating how the total probability is distributed over the various possible values the variable can take.

Symmetric

A characteristic of shapes, equations, or other entities that remain unchanged when reflected, rotated, or transformed in specific ways.

Tails

The ends of a distribution curve, referring to the extreme values far from the mean in a probability distribution.

Mean

The arithmetic average of a set of numbers, calculated by dividing the sum of the values by the number of values.