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a Company

question 98

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Use the following information to answer the Questions:
A company gives a new screening test to test its employees for tuberculosis (TB) . The results are summarized in the following table.  Test result  Has TB  Does not have  TB  Positive 2114 Negative 4140\begin{array} { | l | c | c | } \hline \text { Test result } & \text { Has TB } & \begin{array} { c } \text { Does not have } \\\text { TB }\end{array} \\\hline \text { Positive } & 21 & 14 \\\hline \text { Negative } & 4 & 140 \\\hline\end{array}
-If a randomly selected employee has TB, what is the probability that the employee has a positive test result?


Definitions:

Natural Monopoly

An industry that realizes such large economies of scale that single-firm production of that good or service is most efficient.

Profit-Maximizing Price

The price at which a firm can sell its product to earn the maximum possible profit on those sales.

Marginal Revenue

The additional income from selling one more unit of a good; it is the change in total revenue from an additional unit sold.

Marginal Revenue

The increase in revenue resulting from the sale of one additional unit of a product.

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