Find the Probability
-If a Fair Coin Is Tossed Three Times, Find $\frac { 1 } { 6 }$

question 71

Multiple Choice

Find the probability
-If a fair coin is tossed three times, find the probability of getting heads on the first toss and tails on The second and third tosses.

• A) \(\frac { 1 } { 6 }\)
• B) \(\frac { 1 } { 4 }\)
• C) \(\frac { 1 } { 8 }\)
• D) \(\frac { 3 } { 8 }\)

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Definitions:

MR = MC

The condition where marginal revenue equals marginal cost, typically representing the profit-maximizing point for perfectly competitive firms.

Marginal Revenue

The increase in revenue that results from the sale of one additional unit of a product.

Output Unit

The quantity produced or service provided over a given period of time, often used to measure productivity.

Pure Monopolist

An exclusive provider of a particular good or service in the market, facing no competition.