Solve the Problem. -Suppose a Contest Has 11 Participants. in How Many Different

question 209

Multiple Choice

Solve the problem.
-Suppose a contest has 11 participants. In how many different ways can first through fifth place be awarded?

• A) 55,440
• B) 39,916,680
• C) 161,051
• D) 462

---

Definitions:

Profit-Maximizing

The process a business undertakes to determine the pricing and output that lead to the greatest returns.

Purely Competitive

A market structure characterized by many sellers offering identical products, leading to a situation where no single seller can influence price.

Output

The amount of product or service produced by a company, industry, or economy within a specific period.

Average Variable Cost

The sum of all variable production costs divided by the number of units produced.