Determine Which, If Any, of the Three Statements Are Equivalent

question 189

Multiple Choice

Determine which, if any, of the three statements are equivalent.
-I. The raft flipped if and only if the guide misjudged the rapid or the crew fell overboard.
II. The crew fell overboard, or if the guide misjudged the rapid then the raft flipped.
III. If the guide misjudged the rapid, then the raft flipped or the crew fell overboard.

• A) I and II are equivalent
• B) II and III are equivalent
• C) I, II and III are equivalent
• D) None are equivalent

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Definitions:

MR Curve

The Marginal Revenue Curve represents the change in total revenue that results from selling one additional unit of a product or service.

Downward Sloping

A descriptive term for a graph line that shows a decrease in value as it moves from left to right, often used in economics to describe demand curves.

Demand Curve

A graph showing the relationship between the quantity of a commodity demanded and its price.

Monopolist

An entity that is the sole provider of a particular product or service in a market, thereby controlling its price.