Of the choices given below, Jimmy, whose utility of wealth schedule is given above, prefers
A) option A: $300 with certainty.
B) option B: 50 percent chance of $200 and 50 percent chance of $400.
C) option C: 50 percent chance of $200 and 50 percent chance of $700.
D) option D: 90 percent chance of $400 and 10 percent chance of $0.
A
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Since 1960, life expectancy at birth has ________ in the United States
A) dropped slightly B) remained unchanged C) risen almost 10 years D) risen more than 17 years
Suppose real money demand is 1000, real output is 6000, and the price level is 200. What is the level of velocity in this economy?
A) 2 B) 3 C) 6 D) 12
Figure 7-8
Of the graphs in Figure 7-8, which represents total cost?
A. 1 B. 2 C. 3 D. 4
Typically, total utility derived decreases as more of a good is consumed
a. True b. False Indicate whether the statement is true or false