Find the 4th Term in the Binomial Expansion $$( c + y ) ^ { n }$$

question 170

Multiple Choice

Find the 4th term in the binomial expansion. $$( c + y ) ^ { n }$$

• A)\(\frac { n ! } { ( n - 3 ) ! 3 ! } c ^ { n - 3 } y ^ { n }\)
• B)
• \(\frac { n ! } { ( n - 4 ) ! 4 ! } c ^ { n - 4 } y ^ { 4 }\)
• C)
• \(\frac { n ! } { ( n - 3 ) ! 3 ! } c ^ { n - 3 } y ^ { 3 }\)
• D)
• \(\frac { n ! } { ( n - 4 ) ! } c ^ { n - 4 } y ^ { 4 }\)
• E)
• \(\frac { ( n - 3 ) ! } { ( n - 3 ) ! 3 ! } c ^ { n - 3 } y ^ { 3 }\)

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Definitions:

Economic Profits

The discrepancy between what a business earns in total revenue versus the sum of its explicit and implicit expenditures.

Monopolistically Competitive

A market structure where many companies sell products that are similar but not identical, leading to competition.

Profit-Maximizing

A strategy where a firm sets its production level to achieve the highest possible profit, where marginal cost equals marginal revenue.

Profit-Maximizing Monopolistically Competitive

A situation where a firm in a monopolistically competitive market sets its product prices and output levels to maximize its profits, recognizing it has some degree of market power.