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Solve the problem.
-The number of ways that the first-, second-, and third-place winners in a singing competition can be selected from n finalists is given by . If there are6 finalists, how many ways can the first-, second-,
And third-place winners be selected?
Price
The amount of money exchanged for a unit of a good or service.
Short Run
This refers to a period in which at least one input or resource is fixed, while others can be varied to adjust output.
Minimizing Losses
A strategy or approach adopted by businesses or individuals aiming to reduce the amount of money lost in operations or investments.
Output
The total quantity of goods or services produced by a company, industry, or economic system.
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