A Fair Die Is Rolled 10 Times

question 92

Multiple Choice

A fair die is rolled 10 times. What is the average number of even number outcomes?

• A) 3
• B) 4
• C) 5
• D) 6
• E) 7

---

Definitions:

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, determined where marginal cost equals marginal revenue.

Marginal Product

The additional output that is produced by adding one more unit of a specific input, holding all other inputs constant.

Purely Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product, leading to price taking behavior.

Economic Profit

The difference between the total revenue generated by a business and its total costs, including both explicit and implicit costs.