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1. Mia Dribble has a utility function u=W^(2/3). Mia is a basketball star starting her senior year. If she makes it through her senior year without a serious injury, she will receive a $8,000,000 contract for playing in the new professional women's basketball league ( the $8,000,000 includes endorsements). If she injures herself, she will receive a $64,000 contract for selling concessions at the basketball arena. There is a 20 percent chance that Mia will injure herself badly enough to end her career.
a) What is Mia's expected utility? What is the expected value and the variance of her income?
b) What is Mia's risk premium?
c) Suppose that Mia; is offered an insurance policy at the rate p=0.25 How much of insurance would Mia buy?
1. The only acceptable way to divide words at the end of a line is ________. a. to let the computer decide b. before the last three letters
What is the optimal level of production of wine decanters and what is the marginal revenue from the last wine decanter sold and what are the total revenue, total cost, and net benefit (profit) from selling the optimal number of wine decanters?
These problem belongs to Economics are about Cost Benefit Analysis, the steps involved in conducting Cost Benefit Analysis and the methods of calculating discount rate.
langley clinics inc. buys 400000 in medical supplies each year at gross prices from its major suppliers consolidated
A family purchased a house in March 15, 2005 with a 25-year, $250,000, 6.35 % mortgage. In June 15, 2012, when the mortgage rates were substantially lower, they refinanced the balance of the loan with a 15-year, 4.0 % mortgage. How much does this ..
Select an organization that has a high fixed cost and low variable cost balance to run its operations. Explain and discuss the balance of fixed and variable costs for the organization.
1) Please explain how the Constitution provides for a system of separation of powers and checks and balances. 2) Describe how a bill becomes a law at the national level.
What would then be the annual cost of Redwood National Park if the interest rate is 10% and what is the opportunity cost of the establishment of the park, in terms of use of the land?
to provide access to medical care to Kaiser workers in remote locations where medical services were in short supply,to slow the rate of growth in medical spending for Kaiser employees, as a group model HMO
in the long run the most helpful action that a monopolistically competitive firm can take to maintain its economic
Which of the following explains why big business typically spends more on rent-seeking activities than customers?
Draw the market Demand and Supply curves (on the same graph) for Ford and what is the market equilibrium price and quantity explain what you will observe in the market if the Ford car price is set at a higher than equilibrium price.
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