Answer to Question #254399 in Microeconomics for Sam

Question

True or false: Being a risk-averse individual, you prefer a guaranteed payment of 50$ to a gamble that pays you 100$ with 50% chance and 0$ with 50% chance (note that this question is not related to goods X and/or Y).

Answer 1

Dear Sam, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order