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MrGrimey MrGrimey
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6 years ago
Cindy's attitudes towards risk are summarized by the utility function U(w) =  . Cindy has an initial wealth of $100. There is a 10% chance that her home will sustain flood damage next year costing her $40 in repairs. What is the most she will pay to for a full $40 of flood insurance?
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Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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RumkoRumko
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