Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question 1:
Who wants to play the Mahoney Lottery? Tickets cost $5 to play, and you get to pick a number between 1 and 20. If you guess right, you win $100. If you guess wrong, you win nothing. In either case, you must pay the $5 to play. What is your expected payoff if you play this game?
Question 2:
Consider the same lottery as in question 1. You have a utility function characterized by u(c)=c^(1/2). If you have just $5 before you play the game (so you have just enough to play), what will your expected utility be if you decide to play the game?
Question 3
Again, you currently have $5 and are deciding whether or not to play the Mahoney Lottery. What will your utility be if you don't play the game? Should you play?Answer
You should playYou shouldn't playYou are indifferent between playing and not playing
Question 4
You still have a utility function given by u(c)=c^(1/2), and currently have $5. If I charge $5 for a lottery ticket, how much would the prize have to be for you to be exactly indifferent between playing and not playing (using expected utility framework).
Discuss the effects on a country's current-account balance from the following changes in tax rates. a. A permanent increase in the tax rate on labor income and b. A temporary increase in the tax rate on asset income
in akron ohio the movie market is monopolistically competitive. the demand function for daily attendance and the
Provide an example of the price discrimination for good or service which you thought it to unfair. Do you still believe that the discrimination is unjustifiable.
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output and each hour of labor produces five units of output. For L number of workers hired each hour and w hourly wage rate, the firm faces an upward- sloped labor..
Analyse a range of current economic issues and problems and develop and communicate economic arguments in a variety of forms.
suppose that marginal utility of good a is 4 times the marginal utiltiy of good b but the proce of good ais only 2
Impact of Black-Money inclusion on inflation and money supply? Assumption is government confiscates unaccounted black-money from economy and spend that on projects.
Henry, a resident of Nevada, sued Adam, a resident of Utah in the Federal Court in California. He sought $60,000 damages for personal injuries arising from an automobile accident that occurred in Los Angeles, California. Does the Federal Court hav..
Suppose that the reserve requirement is 10 percent and the balance sheet of the People's National Bank looks like the accompanying example. • What are the required reserves of People's National Bank Does the bank have any excess reserves
We can examine the effects of a subsidy with a simple supply and demand model. Suppose the graph below shows the market for kerosene in Indonesia. The line labeled S1 represents
Consider a market characterized by the following demand and supply conditions: PX = 15 - 2QX and PX = 3 + 2QX. The equilibrium price and quantity are, respectively, a $3 and 9 units.
Are unions good or bad forthe economy How do unions at GM and Ford affect employment levelsand wages How do unions affect other industries in terms ofemployment and wage levels
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd