Which of the Following Statements Is Always True for Any

question 118

Multiple Choice

Which of the following statements is always true for any two events A and B defined on a sample space S?

• A)The complement of event A is event B.
• B)The intersection of A and B is the set of all basic outcomes in either A or B.
• C)If events A and B are mutually exclusive,then A ∩ B = S.
• D)If events A and B are collectively exhaustive,then A ∩ B = S.

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Definitions:

Total Revenue

The complete financial income a company collects from the marketplace by selling its goods or services, before any outlays are subtracted.

Total Cost

The sum of all costs incurred by a business in producing a specific level of output, including both fixed and variable costs.

Purely Competitive Firm

A market structure characterized by a large number of small firms, producing homogenous products, with no single firm able to influence market prices due to perfect competition.

Exchange Rate

The value at which one currency can be exchanged for another, influencing international trade and investment.