A Company Is Considering Producing Two New Electronic Games Designed

question 134

Multiple Choice

A company is considering producing two new electronic games designed for the popular Gameboy toy.Based on market data,management believes that there is a 60 percent chance that a "cops and robbers" game will be successful and a 40 percent chance that a "let's play house" game will be successful.As these products are completely different,it may be assumed that the success of one is totally independent of the success of the other.If two products are introduced to the market,what is the probability that both are failures?

• A)0.16
• B)0.24
• C)0.80
• D)0.36
• E)None of the above

---

Definitions:

Land Demanded

The quantity of land that consumers or firms wish to purchase at various price levels, typically influenced by factors such as location, fertility, and accessibility.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded by consumers at those prices.

Loanable Funds

The funds in financial systems available for borrowing, which consist of household saving, business saving, government budget surpluses, and bank loans.

Loan Period

is the duration over which a borrower is obligated to repay a loan, from the initiation of the loan to the final payment.