Suppose Two Events a and B Are Related

question 127

Short Answer

Suppose two events A and B are related.The ____________________ probability of A is the probability that A occurs,regardless of whether event B occurred or not.

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Definitions:

Import Quota

A government-imposed limit on the quantity or value of goods that can be imported into a country.

Consumer Surplus

The divergence between the total price consumers are willing and able to contribute towards a good or service and the total price they actually contribute.

Japanese Government

The national government of Japan, characterized by a constitutional monarchy and a parliamentary government.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the amount they actually receive.