Refer to the Following Diagram Where U Is the Set

question 91

Multiple Choice

Refer to the following diagram where U is the set of all tourists surveyed over a 1-week period in London and ​ ​
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Express regions 2, 5, 6, and 8 together in set notation and in words.
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• A) ; The set of tourists who have not taken the underground over a 1-wk period in London
• B) ; The set of tourists who have not taken a bus over a 1-wk period in London
• C) ; The set of tourists who have not taken the underground over a 1-wk period in London.
• D) ; The set of tourists who have not taken a cab over a 1-wk period in London
• E) ; The set of tourists who have not taken a cab over a 1-wk period in London.

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Definitions:

Perfectly Price Discriminate

A pricing strategy where a seller charges the maximum price that each consumer is willing to pay, eliminating consumer surplus and maximizing profits.

Monopolist

An individual or entity that is the sole provider of a particular good or service in the market, possessing significant control over pricing and supply.

Profit

The surplus amount after all expenses are deducted from the total income generated by a business or investment.

Price Discrimination

Charging different prices to different buyers for identical products.