Such Products as Mineral Ore and Cement That Are Heavy

question 6

Multiple Choice

Such products as mineral ore and cement that are heavy or bulky relative to their economic values

• A)may be suitable for exporting because high transportation costs will be overcome by high profit margins in oligopolistic industries.
• B)have high "value-to-weight ratios" that protect profit margins.
• C)may not be suitable for exporting because high transportation costs will substantially reduce profit margins.
• D)none of the options

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Definitions:

Fair Coin

A theoretical or ideal coin for which the probability of landing heads or tails is exactly equal, used in probability theory.

Probability

Probability is a measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Random Phenomenon

An event or a process that cannot be predicted with certainty due to the random nature of its outcomes.

Independent

Pertaining to variables or events that are not influenced by other variables in the context of statistical analysis.