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corie corie
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6 years ago
The difference between the utility of expected income and expected utility from income is
A) zero because income generates utility.
B) positive because if utility from income is uncertain, it is worth less.
C) negative because if income is uncertain, it is worth less.
D) that expected utility from income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the utility of expected income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure.
E) that the utility of expected income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the expected utility of income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
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CanihCanih
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#1
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6 years ago
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corie Author
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6 years ago
Helped a lot
54321abs
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Yesterday
Thanks for your help!!
hmonier
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2 hours ago
Smart ... Thanks!
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