Which of the following four products would they purchase

Reference no: EM133630429

Consider a food delivery worker who makes $50,000 per year. There is a 10% chance each year that their e-bicycle gets stolen, which they would have to replace at a cost of $5,000. They browse online and find 4 insurance policies, each promising to replace the bicycle if it's stolen. Assuming that their utility function is: U(c) = √ c. Which of the following four products would they purchase?

Reference no: EM133630429

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