- Jessica S Utility Of Income Is Represented By U 1 221 Where I Represents Annual Income She Is Offered A Job Tha 1 (24.68 KiB) Viewed 107 times
Jessica's utility of income is represented by: U(1) = (221) - where I represents annual income. She is offered a job tha
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Jessica's utility of income is represented by: U(1) = (221) - where I represents annual income. She is offered a job tha
Jessica's utility of income is represented by: U(1) = (221) - where I represents annual income. She is offered a job that has a 0.2 chance of earning $24180 and a 0.8 chance of earning $62560 a year. How much would Jessica be willing to pay to insure against the risky income? Answer: $ (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS.)