Let X Represent the Number of Children in a Canadian

question 101

Multiple Choice

Let X represent the number of children in a Canadian household. The probability distribution of X is
As follows:
Determine the expected number of children in a randomly selected Canadian household.

• A) 2.25
• B) 2.0
• C) 2.5
• D) 2.75
• E) 3.0

Understand the relationship between marginal cost and R&D expenditures in firms.

Comprehend the role of government in financing basic scientific research and its implications on public goods and externalities.

Identify the optimal level of R&D expenditure for firms based on marginal cost and benefit analysis.

Grasp how successful product innovations increase consumer utility and spending efficiency.

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Definitions:

Scope

The extent or range of view, work, or activity; the breadth of a project or operation.

Promoter

In a business context, a promoter is an individual or entity involved in organizing and starting a company, raising capital, and taking the necessary steps to establish it.

Unincorporated Business

A business structure without a separate legal entity from its owner, where the owner is personally responsible for the business's debts and obligations.

Specialized Equipment

Tools or machinery designed for a specific, often technical or industrial, purpose, necessitating particular skills for operation.