At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . If the player were to be made indifferent between playing the game or not, how much should the owner charge him?
a. $30
b. $40
c. $50
d. $80
b
You might also like to view...
Which of the following is NOT an example of a monopolistically competitive market?
A) high fashion clothing B) medical care C) wheat D) automobiles
When one strategy is always the best for a player to choose, regardless of what other players do, it is called:
A. a dominant strategy. B. a Nash equilibrium. C. collusion. D. the prisoner's dilemma.
If people began to retire at a later age and there was an increase in the capital stock, real GDP growth would ____ and real GDP growth per capita would ____. a. increase; increase
b. increase; be indeterminate. c. decrease; decrease. d. decrease; be indeterminate
What would the Herfindahl-Hirschman Index equal for an industry consisting of six firms with market shares of 5%, 10%, 15%, 20%, 25%, and 25%?
a. 100 b. 1,350 c. 1,375 d. 2,000