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Among a dozen eggs, three are rotten. A cookie recipe calls for two eggs; they'll be selected randomly from that dozen. Which plan could be used to simulate the number of rotten eggs that might be chosen?
I. Let 0,1 , and 2 represent the rotten eggs, and the good eggs. Generate two random numbers , ignoring repeats.
II. Randomly generate a 0,1 , or 2 to represent the number of rotten eggs you get.
III. Since of the eggs are rotten, let rotten and good. Generate two random numbers and see how may 0 's you get.
Subsidy
Financial aid supplied by the government to an industry or business, with the aim of keeping prices low for consumers or aiding the business to be competitive.
Efficiency Loss
Economic costs that arise when market equilibrium is not achieved, or when resources are not allocated optimally, leading to waste or suboptimal outcomes.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable.
Marginal Cost
The extra expense associated with manufacturing an additional unit of a product or service.
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