For What Value of C Is the Function a Probability

question 25

Multiple Choice

For what value of c is the function a probability density function? ​

• A) 2,000
• B) 1,000
• C) 4,000
• D) 40,000
• E) 20,000

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Definitions:

Price-Making Ability

The capacity of a firm or entity to influence the price of goods or services in the market rather than accepting the market price as given.

Marginal Cost

The outlay required to produce an additional unit of a product or service.

Profit-Maximizing Level

The point at which a firm achieves the highest possible profit, typically where marginal costs equal marginal revenue.

Marginal Revenue

The additional income that a firm receives from selling one more unit of a good or service.