Mel's utility of wealth is 130 units at $3,000, 160 units at $5,000, and 190 units at $9,000. Starting from zero wealth, he must choose between options A and B
Option A gives him $5,000 for sure. Option B gives him $3,000 with probability 0.4 or $9,000 with probability 0.6. Mel
A) will choose A.
B) will choose B.
C) is indifferent between A and B.
D) needs more information to make a choice.
B
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Over the past 20 years, foreign financial investment in the United States has
A) increased significantly. B) decreased significantly. C) remained fairly consistent. D) become negative.
Which of the following is the best example of scarcity?
A) The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers trying to purchase the limited number of available Teddies. B) Fred only gets a 10-hour lunch break and each day must decide between working out at the gym or socializing with his colleagues. C) The local market's buy-one-get-one-free sale on strawberries results in more people wanting the berries than producers are able and willing to supply. D) There is a bumper crop of strawberries, and stores have more berries than they can sell.
Determine the required scope of work:
What will be an ideal response?
To prevent demand-pull inflation...
What will be an ideal response?