The equivalent certain income to this bet

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Q1. Robert Nozick concluded which no state should provide any services beyond law enforcement. This would essentially result in all highways, schools, and social security also other services outside of police also homeland security becoming privatized. Do you believe which there should be any exemptions to this argument?

Q2. Ronald has $18,000. but he is forced to bet it on the flip of a fair con. if he wins he has $36,000. if he loses he has nothing. Ronald's expected utility function is u(x,y)=0.5x1^0.5 + 0.5y1^0.5, where x is his wealth if heads comes up also y is his wealth if tails comes up. Illustrate what is the equivalent certain income to this bet? Explain how your work.

Reference no: EM1313247

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