You Are Given the Probability That an Event Will Happen

question 49

Multiple Choice

You are given the probability that an event will happen.Find the probability that the event will not happen. P(E) = 0.79

• A) 0.79
• B) 0.21
• C) 0.105
• D) 0
• E) 1

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Definitions:

Average Variable Cost

The total variable costs (costs that change with the level of output) divided by the quantity of output produced, indicating the cost of producing an additional unit.

Marginal Cost

The boost in expenditure linked to creating an additional unit of a good or service.

Average Total Cost

Refers to the sum of all production costs divided by the total output produced, indicating the cost per unit of producing a good or service.

Cakes

Baked desserts that are typically sweet and made from ingredients such as flour, sugar, and eggs.