Use the Following Information to Answer the Questions:
in American

question 53

Essay

Use the following information to answer the Questions:
In American football the "third down and short" situation occurs often. The probabilities of obtaining a first down, shown below, are dependent on the choice of the offense and the anticipated choice of the defense. $\begin{array}{lll}&&&\text { Defense }\\&&\text { Run } &&\text { Pass }\\\text { Offense }&\text { Run } & 0.2 && 0.8 \\&\text { Pass } & 0.5 && 0.1\end{array}$
-Suppose the value of the game is $p$ What does this mean for the defense?

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Definitions:

Surpluses

Occurs when the quantity of a good or service supplied exceeds the quantity demanded at a specific price; the opposite of shortages.

Shortages

A situation in which the demand for a product or service exceeds the supply available at a particular price.

Quantity Supplied

Refers to the amount of a good or service that producers are willing and able to sell at a given price during a specific period.

Quantity Demanded

The amount of a good that buyers are willing and able to purchase at a specific price.