Evaluate the Logarithm $\log _ { 2 } \sqrt { 2 }$

question 115

Multiple Choice

Evaluate the logarithm.
- $\log _ { 2 } \sqrt { 2 }$

• A) 1/2
• B) -2
• C)- 1/2
• D) 2

Understand the basic principles of supply and demand in a purely competitive market.

Analyze how market equilibrium price and quantity are determined in competitive markets.

Identify the relationship between cost structures (fixed, variable, and total costs) and pricing decisions in competitive firms.

Comprehend how firms in competitive markets make production decisions based on marginal analysis.

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Definitions:

Discrete Random Variable

A variable that assumes a countable number of distinct values, with each value associated with a certain probability.

Discrete Probability Distribution

A discrete probability distribution outlines the probabilities of outcomes for discrete random variables, where outcomes are countable.

Discrete Probability Distribution

A probability distribution characterized by a set of discrete outcomes or values with corresponding probabilities.

Expected Number

The average value or mean of a random variable; it is the long-run average outcome of a random event repeated many times.