Each of Ten Tickets Is Marked with a Different Number $\frac { 1 } { 10 }$

question 255

Multiple Choice

Each of ten tickets is marked with a different number from 1 to 10 and put in a box. If you draw a ticket from the box, what is the probability that you will draw 2, 7, or 6?

• A) \(\frac { 1 } { 10 }\)
• B) \(\frac { 1 } { 7 }\)
• C) \(\frac { 3 } { 10 }\)
• D) \(\frac { 1 } { 2 }\)

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Definitions:

Market Price

The current price at which a commodity, security, or service can be bought or sold in a particular market.

Willingness to Pay

The maximum amount an individual is prepared to spend for a particular good or service.

Consumer Surplus

The gap between the aggregate amount that buyers are willing and able to allocate for a good or service and the total sum they really pay.

Consumer Surplus

The variance between consumers' potential payment for a good or service and their actual expenditure.