THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 108

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose you roll a pair of dice.Let A be the event that you observe an even number.Let B be the event that you observe a number greater than seven.
-What is the union of events A and B?

• A)[8,9,10,11,12]
• B)[8,10,12]
• C)[2,4,6,8,9,10,11,12]
• D)[2,3,4,5,6,7,8,9,10,11,12]

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Definitions:

Perfect Competitor

A theoretical economic concept where an individual firm cannot influence the market price of the good or service it produces.

Price Maker

is an entity that has control over the price of the goods or services it provides, often due to a lack of competition.

Marginal Cost

The cost incurred by producing one additional unit of a product or service, a crucial concept for optimizing production and determining pricing.

Firm

A business organization, such as a corporation, partnership, or sole proprietorship, which is engaged in the production and distribution of goods or services.