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

Author Question: Diminishing Marginal Utility and Expected UtilityThe graph shows the relationship between income and ... (Read 72 times)

redpassion

  • Full Member
  • ***
  • Posts: 151
on: Nov 23, 2022
Diminishing Marginal Utility and Expected Utility

The graph shows the relationship between income and utility for Ahab.
 
Assume that U1=170, U2=187, U3=243, U4=255, I1=$29,000, I2=$35,000, I3=$59,000, and I4=$65,000.
Suppose Ahab is offered two different jobs. For the first job, he will earn $35,000 a year. For the second job, he has a 30% chance of earning $29,000 a year and a 70% chance of earning $59,000 a year. What is the expected value of the second job? What is the expected utility of the second job?
Please round your final answer to two decimal places.
◦ $38,000.00, 221.10
◦ $50,000.00, 191.90
◦ $38,000.00, 191.90
◦ $50,000.00, 221.10
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by redpassion on Nov 23, 2022

ad2018

  • Full Member
  • ***
  • Posts: 189
Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 45% of students answer this correctly


redpassion

  • Member
  • Posts: 151
Reply 2 on: Nov 23, 2022
Gracias!

daiying98

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Shope’s Model of Young Driver Crash Risks The model shows that many factors contribute to crash ris Shope’s Model of Young Driver Crash Risks The model shows that many factors contribute to crash ris
The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ... The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ...
Sources of income for U.S. population aged 65 and over. Sources of income for U.S. population aged 65 and over.
Monitoring shows that many forms of air pollution have decreased Monitoring shows that many forms of air pollution have decreased
Simultaneous Determination of Income and Modernization Simultaneous Determination of Income and Modernization
Evaluate then graph the following limits Evaluate then graph the following limits
Video: Glomerubular filtrate rate -pressures that affect GFR and net filtration pressure

For a complete list of videos, visit our video library