Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, they win $20 and if it is blue, they win $1. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; if it is red, they win $20; if it is blue, they win $5; and if it is green, they win $1. Both games cost $5 to play. Kate decides to play the second game. Her probability of pulling out a green marble is:
A. 40 percent.
B. 75 percent.
C. 10 percent.
D. 50 percent.
Answer: D
Economics
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Refer to Figure 2-1. Point B is
A) technically efficient. B) unattainable with current resources. C) inefficient in that not all resources are being used. D) the equilibrium output combination.
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One method of correcting for ____ externalities is to create a ____ to make sure the market accounts for all costs and benefits
a. market failure; tax b. negative; tax c. positive; mechanism d. positive; tax e. negative; free market
Economics