Question 1
Refer to the data provided in Table 17.5 below to answer the following question(s). The table shows the relationship between income and utility for Lucy.
![](data:image/png;base64, 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)
Refer to Table 17.5. From the table, we can see that Lucy is
◦ risk-averse.
◦ risk-loving.
◦ risk-neutral.
◦ We cannot determine Lucy's attitude toward risk from the table.
Question 2
Refer to the data provided in Table 17.5 below to answer the following question(s). The table shows the relationship between income and utility for Lucy.
![](data:image/png;base64, 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)
Refer to Table 17.5. Lucy earns $20,000 annually. She has the opportunity to bet her entire salary on the upcoming super bowl. If Lucy takes the bet, she will pick the Packers. She believes that the Packers have a 50-50 chance of winning the game. If the Packers win, Lucy will double her money ($40,000) but if they lose she loses her entire salary ($0). This bet can be characterized as
◦ risk-neutral.
◦ an unfair bet.
◦ a fair bet.
◦ risk-loving.