If Either Event a or Event B Must Occur,then Events

question 81

Multiple Choice

If either event A or event B must occur,then events A and B are said to be

• A)mutually exclusive.
• B)independent.
• C)collectively exhaustive.
• D)None of the above.

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Definitions:

Average-Fixed-Cost Curve

A graphical representation that shows the fixed costs of production per unit of output declining as the quantity of output increases.

Marginal-Cost Curve

A graphical representation that shows the cost of producing one more unit of a good.

Average-Total-Cost Curve

A graphical representation showing how the average total cost of production changes as the quantity of output is altered.

GPA

Grade Point Average, a measure of a student's academic achievement at a college or university, calculated as a numerical average of grades.