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You Are Considering the Purchase of One Ticket for a Raffle

Question 165

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You are considering the purchase of one ticket for a raffle with a grand prize of $1,000. There are two prizes worth $100 and five prizes worth $20. If you know that only 100 tickets will be sold, what is the most you would pay for one raffle ticket?

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The most you would pay for a ticket is t...

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