Provide an Appropriate Response

question 71

Multiple Choice

Provide an appropriate response.
-A game involves tossing a fair coin 200 times. For each tail that appears you lose $1. For each head that appears, you win $1.
After 100 tosses, there have been 40 heads and 60 tails. At this point, with 100 tosses to go, what
Can you conclude?
A: You are more likely to lose than to win.
B: You are still equally likely to win or lose because in the long run there should be 50% heads.
C: In the next 100 tosses you are likely to get more heads than tails.

• A)B and C
• B)A and C
• C)A only
• D)B only

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Definitions:

Tying Contract

A requirement imposed by a seller that a buyer purchase another (or other) of its products as a condition for buying a desired product; a practice forbidden by the Clayton Act.

Price-fixing

An illegal agreement among competitors to maintain prices at a certain level, preventing the forces of competition from dictating market prices.

Sherman Act

The federal antitrust law of 1890 that makes monopoly and conspiracies to restrain trade criminal offenses.

Federal Energy Regulatory Commission

The Federal Energy Regulatory Commission (FERC) is a U.S. government agency that regulates the interstate transmission of electricity, natural gas, and oil.