Upon Examining the Contents of 38 Backpacks, It Was Found

question 70

Multiple Choice

Upon examining the contents of 38 backpacks, it was found that 23 contained a black pen, 27
Contained a blue pen, and 21 contained a pencil, 15 contained both a black pen and a blue pen, 12
Contained both a black pen and a pencil, 18 contained both a blue pen and a pencil, and 10 contained
All three items. How many backpacks contained exactly two of the three writing instruments?

• A)11
• B)2
• C)15
• D)3

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Definitions:

Average Product

The average output produced per unit of a factor of production over a specific period, often calculated for labor or capital.

Input

The resources used in the production process, such as labor, materials, and machinery.

Explicit Costs

These are direct payments made to others in the course of running a business, such as wages, rent, and materials.

Implicit Costs

Costs that represent potential benefits foregone when resources are not utilized in their next-best alternative use.