Solve the Problem $\frac { 4 } { 9 }$ C) $\frac { 1 } { 9 }$

question 57

Multiple Choice

Solve the problem.
-There are 3 cards in a hat; one is a king, one is a queen, and one is an ace. Two cards are to be Selected at random without replacement. Using a tree diagram , obtain the sample space for the Experiment. Then, find the probability that you choose the same card twice.

• A) 0
• B) \(\frac { 4 } { 9 }\)
• C) \(\frac { 1 } { 9 }\)
• D) \(\frac { 1 } { 3 }\)

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Definitions:

Monopolistic Competition

A market structure characterized by many firms offering products that are similar but not identical, allowing for some degree of market power and product differentiation.

Close Substitutes

Goods or services that can easily replace one another in consumption due to their similar characteristics.

Horizontal Demand

Refers to a demand curve that is completely elastic, indicating that consumers are willing to purchase any quantity of the product at a specific price.

Product Differentiation

A marketing strategy that businesses use to distinguish their product from similar offerings in the market.