If P(B)= 7 and P(A|B)=

question 175

True/False

If P(B)= .7 and P(A|B)= .7,then P(A and B)= 0.

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Definitions:

Domestic Price

The price of goods or services within a country's borders, as opposed to international or import/export prices.

World Price

The international market price of a good or service, influenced by global supply and demand.

Import

Bringing in merchandise or services from overseas with the intent to sell them within a country.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on by choosing one option over another.