Based on the Data Above, What Are the Odds of Being

question 17

Multiple Choice

Based on the data above, what are the odds of being a man if you watch sport?

• A) 0.47
• B) 0.14
• C) 0.41
• D) 2.13

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Definitions:

Entry Barriers

Obstacles that prevent new competitors from easily entering an industry or area of business.

Economic Profit

The difference between the entirety of earnings and the aggregate of expenditures, acknowledging both visible and concealed costs.

Maximum Profit

The highest possible financial gain that a business can achieve under given market conditions and with its current resources.

Monopolist

A monopolist is a sole producer or supplier of a particular good or service in the market, having significant control over pricing and market conditions.