Numbered Disks Are Placed in a Box and One Disk $\frac { 1 } { 2 }$

question 100

Multiple Choice

Numbered disks are placed in a box and one disk is selected at random. If there are 6 red disks numbered 1through 6, and 4 yellow disks numbered 7 through 10, find the probability of selecting a yellow disk, given thatthe number selected is less than or equal to 3 or greater than or equal to 8.

• A) \(\frac { 1 } { 2 }\)
• B) \(\frac { 3 } { 4 }\)
• C) \(\frac { 3 } { 5 }\)
• D) \(\frac { 3 } { 10 }\)

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Definitions:

Profit-Maximizing

Profit-Maximizing refers to the point at which a firm achieves the highest possible profit through the manipulation of production or pricing strategies.

MR = MC

A condition in economics where marginal revenue equals marginal cost, often considered the point of profit maximization for firms in perfectly competitive markets.

Short Run

A period in which at least one factor of production is fixed, limiting the ability of firms to adjust to market changes.

Perfectly Competitive Market

A theoretical market structure where many buyers and sellers trade homogeneous products, and no single participant can influence the price.