Answer the Question -Find the Odds Against Correctly Guessing the Answer to a Answer

question 125

Multiple Choice

Answer the question
-Find the odds against correctly guessing the answer to a multiple choice question with 4 possible answers.

• A)4 : 1
• B)3 : 1
• C)3 : 4
• D)4 : 3

---

Definitions:

Average Total Cost

The cost per unit of output, calculated by dividing the total production cost by the quantity of output produced.

Marginal Revenue

The supplementary earnings acquired from selling an extra unit of a product or service.

Competitive Market

A market structure where multiple firms are vying for consumers' business, thereby fostering innovation and fair pricing due to competition.

Total Revenue

The full amount of capital a business garners from the sale of goods or the rendering of services for a particular timeframe.