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A computer is simulating games of chess.When the numbers 1, 2, and 3 appear, player A has won.When the numbers 4, 5, and 6 appear, player B has won.If the numbers 7, 8, and 9 appear, it was a draw.Given
The following sequence of randomly generated numbers, how many games did A win?
4, 5, 8, 5, 9, 3, 6, 4, 5, 1, 8, 3, 6
Elastic Demands
A situation where the demand for a good or service significantly changes in response to changes in its price.
Close Substitutes
Products or services that can easily replace each other in the eyes of the consumer, offering similar benefits and functionalities.
Inelastic
A term describing a situation in which the quantity demanded or supplied of a good or service is relatively unresponsive to changes in price.
Elastic
Describes a situation in which the demand for a good or service significantly changes in response to changes in price.
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