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Jessica's utility of income is represented by: U(I) = (191) where I represents annual income. She is offered a job that
Posted: Tue Nov 16, 2021 8:21 am
by answerhappygod
- Jessica S Utility Of Income Is Represented By U I 191 Where I Represents Annual Income She Is Offered A Job That 1 (31.54 KiB) Viewed 91 times
Jessica's utility of income is represented by: U(I) = (191) where I represents annual income. She is offered a job that has a 0.4 chance of earning $72940 and a 0.6 chance of earning $22030 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.)