A Class of 25 Students Wrote a Term Test

question 106

Multiple Choice

A class of 25 students wrote a term test. The results out of 30 marks are as follows: What was the average score on the test?

• A) 20
• B) 25
• C) 22
• D) 21.4
• E) 17.5

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Definitions:

Duopoly

A two-firm oligopoly.

Demand Curve

A graph depicting the relationship between the price of a good and the quantity demanded by consumers, typically sloping downwards from left to right.

Competing Firm

A company that produces goods or services that are similar to those of another company, thereby participating in the same market.

Colluding Oligopoly

A market situation where a small number of firms agree to manipulate market conditions, such as price or output, for mutual benefit.