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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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#1
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6 years ago
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Satsume Author
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6 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
asd454512
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Yesterday
Smart ... Thanks!
gmiannotti
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2 hours ago
Just got PERFECT on my quiz
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