If a Coin Is Tossed Three Times, the Likelihood of Obtaining

question 84

Multiple Choice

If a coin is tossed three times, the likelihood of obtaining three heads in a row is _____.

• A) 0
• B) .500
• C) .875
• D) .125

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Definitions:

Industry Demand

The total demand for the products or services provided by a specific industry, represented as the sum of individual demands within a market.

Perfect Competition

A market structure characterized by many buyers and sellers, homogeneous products, and no barriers to entry or exit, leading to efficient pricing and output decisions.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market with no close substitutes, leading to high control over market prices.

Marginal Revenue

The boost in revenue achieved by selling one more unit of a good or service.