In a Dice Game, You Win If the Two Dice

question 40

Multiple Choice

In a dice game, you win if the two dice come up 10 or higher. Otherwise, you lose $1. What should be the profit for winning to make this game fair?

• A)$4
• B)$5
• C)$6
• D)$7

---

Definitions:

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, highlighting preferences.

Consumption Bundle

A set of goods or services that an individual or household consumes within a specific period.

Price of Spice

The specific cost associated with purchasing spice, which could vary based on market factors, quality, and availability.

Price of Whips

The cost at which whips are sold in the market, which can be influenced by factors like material costs and demand.