You Spin the Spinner Shown Below Four Separate Times and Record

question 12

Short Answer

You spin the spinner shown below four separate times and record the number of times that the spinner lands Blue. Write out the sample space.

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Definitions:

Total Industry Output

The aggregate production of goods and services in a specific industry within a given period.

Marginal Cost

The cost of producing one additional unit of a good or service, reflecting changes in variable costs.

Cartel

An agreement among competing businesses to control prices or exclude entry of a new competitor in the market, aiming at maximizing their profits collectively.

Fixed Cost

Costs that do not vary with the level of output produced, such as rent, salaries, and some utilities.