This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Mel's utility of wealth is 130 units at 3,000, 160 units at 5,000, and 190 units at 9,000. Starting ... (Read 107 times)

Evvie72

  • Hero Member
  • *****
  • Posts: 519
on: Jun 29, 2018
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.

Question 2

In the figure above, the firm's economic
 
  A) loss will be greater than 30 per day.
  B) loss will be 30 or less per day.
  C) profit will be between 0 and 30 per day.
  D) profit will be greater than 30.01 per day.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

janieazgirl

  • Sr. Member
  • ****
  • Posts: 300
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Evvie72

  • Member
  • Posts: 519
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

hramirez205

  • Member
  • Posts: 345
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a
Using a gauge that measures vacuum in units of inches of water to test the vacuum at the dipstick ... Using a gauge that measures vacuum in units of inches of water to test the vacuum at the dipstick ...
How to convert units of any rate to another (Part 3) How to convert units of any rate to another (Part 3)
Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he ... Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he ...
A simplified overview of the genes and regulatory units involved in the control of lactose metabolis A simplified overview of the genes and regulatory units involved in the control of lactose metabolis
How much atmospheric pressure drop would starting to effect us? How much atmospheric pressure drop would starting to effect us?
Video: Chemical Messengers Animation

For a complete list of videos, visit our video library