If Events a and B Are Independent,then the Probability of Simultaneous

question 93

Multiple Choice

If events A and B are independent,then the probability of simultaneous occurrence of event A and event B can be found with ____________.

• A)P(A)●P(B)
• B)P(A)●P(B|A)
• C)P(B)●P(A|B)
• D)All of these are correct.

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Definitions:

Elastic Demand

A situation in which the demand for a product or service is significantly responsive or sensitive to changes in its price.

Total Revenue

The total amount of money generated from the sale of goods or services before any expenses are subtracted.

Price Elasticity

A measure of how much the quantity demanded of a good or service changes in response to a change in its price.