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College Professorship a Ph

question 80

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College Professorship A Ph.D. graduate has applied for a job with two colleges: A and B . The graduate feels that she has a 60% chance of receiving an offer from college A and a 50% chance of receiving an offer from college B . If she receives an offer from college B , she believes that she has an 80% chance of receiving an offer from college A . Let A = receiving an offer from college A , and let B = receiving an offer from college B . {College Professorship Narrative} What is the probability that at least one college will make her an offer?


Definitions:

Surplus Payments

Payments made above the market price, often by a government to producers, to encourage production or as a form of subsidy.

Economists

Professionals who study and apply theories and concepts related to economies, analyzing trends and advising on economic policy.

Henry George

An American political economist known for his belief that people should own the value they produce themselves, but that the economic value derived from land (including natural resources) should belong equally to all members of society.

Land-Rent Income

Income derived from owning land and leasing it for economic use, such as agriculture, construction, or commercial development.

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