Use Set Notation, and List All the Elements of the Set

question 248

Multiple Choice

Use set notation, and list all the elements of the set.
- $\{ 12,18,24 , \ldots , 54 \}$

• A) \(\{ 12,18,24,30,36,42,48,54 \}\)
• B) \(\{ 12,18,24,31,37,43,49,55 \}\)
• C) \(\{ 12,18,23,29,35,41,47,53 \}\)
• D) \(\{ 12,18,24,30,36 \}\)

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Definitions:

Factor Price

The price at which factors of production (land, labor, capital) are bought and sold.

Production Function

A mathematical model that describes the relationship between inputs used in production and the resulting output.

Profit-maximizing

The process or strategy of adjusting production and operations to achieve the highest possible profit under given conditions.

Fixed Factor

A resource in the production process whose quantity cannot readily be changed in the short term.