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Person utility function

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Reference no: EM131830438

Suppose that a person has a lottery ticket from which he will win X dollars, where X has a uniform distribution on the interval (0,4). Suppose also that the person's utility function is U(x) = x for x> 0. where a is a given positive constant. For how many dollars· Xo would the person be willing to sell this lottery ticket?

Reference no: EM131830438

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