Two Dice Are Rolled $\frac { 1 } { 6 }$

question 52

Multiple Choice

Two dice are rolled. Find the probability of getting doubles or a sum of 2.

• A) \(\frac { 1 } { 6 }\)
• B) \(\frac { 2 } { 9 }\)
• C) \(\frac { 7 } { 36 }\)
• D) \(\frac { 1 } { 4 }\)

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Definitions:

Economies of Scale

The reduction in per-unit cost as the scale of production increases, leading to greater efficiency and lower costs for large-scale producers.

Foreign Competition

The presence and impact of competitors from other countries in a domestic market, often influencing prices, market shares, and industry standards.

Oligopolistic Market

A market structure characterized by a small number of large firms that dominate the market, often leading to strategic interactions and considerations regarding pricing and production.

Allocative Efficiency

A state of resource distribution where it is impossible to make any one individual better off without making someone else worse off, maximizing societal welfare.