In an Experiment in Which a Coin Is Tossed Twice

question 118

Multiple Choice

In an experiment in which a coin is tossed twice, which of the following represents mutually exclusive and collectively exhaustive events?

• A) {TT, HH} and {TT, HT}
• B) {HT, TH} and {HH, TH}
• C) {TT, HH} and {TH, HT}
• D) {TT, HT} and {HT, TH}

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Definitions:

Fixed Cost

Expenses that do not change as a function of the activity of a business, within the relevant period.

Marginal Cost

The cost of producing one additional unit of a product.

Average Total Cost

The total cost divided by the quantity of output produced, indicating the average cost per unit of output.

Total Cost

The complete cost of production for a business, including both fixed and variable costs.