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    Intermediate Microeconomics
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    Exam 4: Uncertainty
  5. Question
    Suppose a Lottery Ticket Costs $1and Has a Jackpot of $1,000.What
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Suppose a Lottery Ticket Costs $1and Has a Jackpot of $1,000.What

Question 6

Question 6

Multiple Choice

Suppose a lottery ticket costs $1and has a jackpot of $1,000.What must the probability of winning nothing be if the bet is fair?


A) 99%
B) 99.9%
C) 99.999%
D) 99.9999%

Correct Answer:

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