Which of the following statements is true?
a. In both black markets and legal markets, supply and demand determine price.
b. The quality of products sold in black markets and legal markets are similar.
c. The price of products in black markets tends to be the same as those in legal markets for otherwise identical products.
d. The rate of violence is similar in black markets and legal markets.
A
Economics
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A lottery game pays $500 with .001 probability and $0 otherwise. The variance of the payout is
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