This topic contains a solution. Click here to go to the answer

Author Question: The difference between the utility of expected income and expected utility from income is A) zero ... (Read 128 times)

schs14

  • Hero Member
  • *****
  • Posts: 569
The difference between the utility of expected income and expected utility from income is
 
  A) zero because income generates utility.
  B) positive because if utility from income is uncertain, it is worth less.
  C) negative because if income is uncertain, it is worth less.
  D) that expected utility from income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the utility of expected income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure.
  E) that the utility of expected income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the expected utility of income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure.

Question 2

Producer surplus for the whole market can be thought of as
 
  A) total profit.
  B) variable operating profit plus factor rents.
  C) total profit minus factor rents earned by lower cost firms.
  D) total profit plus factor rents earned by lower cost firms.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

honnalora

  • Sr. Member
  • ****
  • Posts: 325
Answer to Question 1

D

Answer to Question 2

D




schs14

  • Member
  • Posts: 569
Reply 2 on: Jul 1, 2018
Wow, this really help


bdobbins

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

For a complete list of videos, visit our video library