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Satsume Satsume
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6 years ago
Irene's utility of income function is U(I) = 20I + 300.  Irene is offered the following game of chance.  The odds of winning are 1/100 and the pay-off is 75 times the wager.  If she loses, she loses her wager amount.  Calculate Irene's expected utility of the game.
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Microeconomics

Microeconomics


Edition: 8th
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CanihCanih
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6 years ago
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