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There is a contest involving collectible game pieces. The probability of finding game piece A is 1 in 90,000,000. The probability of finding game piece B is 1 in 25. The person who possesses both pieces can exchange them for a $1,000,000 cash prize.
You find game piece A and decide to sell it to your friend who has game piece B. What is a fair price for your game piece?
You find game piece A and decide to sell it to your friend who has game piece B. What is a fair price for your game piece?