Examlex
The marginal cost curve passes through the ________ points of the ________ cost curve and the ________ cost curve.
Collectively Exhaustive
A property of a set of events that ensures all possible outcomes are covered, leaving no possibility out.
Probability
A numerical measure of the likelihood of a specific event occurring, ranging from 0 to 1.
Mutually Exclusive
Mutually exclusive refers to events in probability and statistics that cannot occur at the same time, indicating that the occurrence of one event necessarily excludes the occurrence of the other.
Collectively Exhaustive
A set of events is collectively exhaustive if at least one of the events must occur.
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