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What is the probability of winning three games in a row,if the probability of winning each individual game is 1/2,independent of each other game?
Club Goods
Goods that are excludable but non-rivalrous, meaning access to the good can be limited by a fee or membership, but one person's use does not diminish availability to others.
Common Resource
A resource like air or water that is non-excludable and rival in consumption, leading to potential overuse.
Fish In The Ocean
A term referring to the natural aquatic resources found in oceans, which can include various types of fish and sea life considered as potential food sources or ecological assets.
Private Goods
Goods that are rivalrous and excludable, meaning one person's consumption prevents another's.
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