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Satsume Satsume
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Posts: 761
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6 years ago
Blanca has her choice of either a certain income of $20,000 or a gamble with a 0.5 probability of $10,000 and a 0.5 probability of $30,000.  The expected value of the gamble:
A) is less than $20,000.
B) is $20,000.
C) is greater than $20,000.
D) cannot be determined with the information provided.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
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6 years ago
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