If Two Events Are Collectively Exhaustive,what Is the Probability That

question 20

Multiple Choice

If two events are collectively exhaustive,what is the probability that one or the other occurs?

• A) 0.25
• B) 0.50
• C) 1.00
• D) Cannot be determined from the information given.

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Definitions:

Optimal Allocation

The most efficient distribution of resources and efforts among various possible tasks or uses to maximize desired outcomes or objectives.

Social Good

refers to an action or a policy that benefits society at large, often with an emphasis on public resources and welfare.

Marginal Benefit (MB) Curve

A graphical representation that shows the additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Pollution Abatement

Actions or measures taken to reduce, control, or eliminate pollution and its negative effects on the environment.