An Election Is Being Held to Fill Two "At Large

question 35

Short Answer

An election is being held to fill two "at large" city council seats. Two Republicans and three Democrats are running for office. Assume the candidates are equally likely to be elected, and independent of each other.
a. What are the possible outcomes of the election?
______________
b. What is the probability both seats are filled by Republicans?
______________
c. What is the probability one Republican and one Democrat are elected to the two city council seats?
______________

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Definitions:

Profit-Maximizing Price

The price at which a firm can maximize its profit, determined by the intersection of marginal cost and marginal revenue.

Monopolistically Competitive

A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and branding differentiation.

Economic Profits

The gap between a company's overall income and its combined outgoings, factoring in both direct and indirect expenses.

Entry Blocked

A market condition where barriers exist that prevent new competitors from easily entering an industry or area of business.