Solve the Problem. -An Ordinary Die Is Tossed. What Are the Odds in the Odds

question 18

Multiple Choice

Solve the problem.
-An ordinary die is tossed. What are the odds in favor of the die showing an odd number?

• A) 2 to 1
• B)1 to 1
• C)3 to 2
• D)1 to 2

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing a firm's net gain.

Marginal Cost

The cost increase associated with the production of an extra unit of a product or service.

Market Price

The present cost at which a product or service is available for purchase or sale in the market.

Market Price

The current value at which a good or service can be bought or sold in a marketplace, influenced by supply and demand.