Decide Whether the Selection Described Is a Combination or a Permutation

question 99

Multiple Choice

Decide whether the selection described is a combination or a permutation.
Three prizes are given to the winners of a race.

• A)cannot be determined
• B)combination
• C)permutation

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Definitions:

Variable Costs

Costs that vary directly with the level of production or sales volume, such as materials and labor.

Fixed Costs

Costs that do not change with the amount of goods or services produced, such as rent, salaries, and insurance premiums.

Depreciation

An accounting method of allocating the cost of a tangible asset over its useful life.

Sales Price

The total cost that a consumer incurs to buy a product or service from a merchant.