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The Table Below Gives the Probabilities of Combinations of Religion

question 113

Multiple Choice

The table below gives the probabilities of combinations of religion and political parties in a major U.S.city.  Religion  Political parties  Protestant (A)  Catholic (B)  Jewish (C)  Other (D)  Democrat (E) 0.350.100.030.02 Republican (F) 0.270.090.020.01 Independent (G) 0.050.030.020.01\begin{array}{l}\quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \text { Religion }\\\begin{array} { | l | c c c c | } \hline\text { Political parties } & \text { Protestant } ( A ) & \text { Catholic } ( B ) & \text { Jewish } ( C ) & \text { Other } ( D ) \\\hline \text { Democrat } ( E ) & 0.35 & 0.10 & 0.03 & 0.02 \\\text { Republican } ( F ) & 0.27 & 0.09 & 0.02 & 0.01 \\\text { Independent } ( G ) & 0.05 & 0.03 & 0.02 & 0.01 \\\hline\end{array}\end{array}
-What is the probability that a randomly selected person would be an independent whose religion was neither Protestant nor Catholic?

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Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay, measuring consumer satisfaction.

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The discrepancy between what consumers are ready and capable of paying for a product or service and what they end up actually spending.

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A British economist, known for his significant contributions to classical economics, especially his work on the principles of economics, including the theories of supply and demand.

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The additional satisfaction or utility gained by consuming one more unit of a good or service, which typically decreases with each additional unit consumed.

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