I need answer typing clear urjent no chatgpt used i will give 5 upvotes Suppose Joe's wealth is $20,000. If he falls ill, the expenses will cause his wealth to decline to $10,000.Use the figure below to answer questions 6-8.200198194Total utility 170of wealth140140.a.b. 160.C. 180.d. 200.ACertaintyUtilitya. 140.b. 160.10,000C. 180.d. 193.D'Wealth16. If the probability of illness is -4Fa. $12,500.b. $15,000.c. $17,500.d. $19,000.7. If the probability of illness isC15,0008. If the probability of illness isCExpected Utility19,000 20,000the expected wealth equals:the expected utility equals:the certainty level of utility equals (approximately):23

A want satisfying power of a commodity or service is known as its utility. Utility is a significant…

6. If the probability of illness is the expected wealth equals: a. $12,500. b. $15,000. c. $17,500. d. $19,000. 1 7. If the probability of illness is, the expected utility equals: a. 140. b. 160. c. 180. d. 200. 1 8. If the probability of illness is , the certainty level of utility equals (approximately): 3 a. 140. b. 160. C. 180. d 192

6. If the probability of illness is the expected wealth equals: a. $12,500. b. $15,000. c. $17,500. d. $19,000. 1 7. If the probability of illness is, the expected utility equals: a. 140. b. 160. c. 180. d. 200. 1 8. If the probability of illness is , the certainty level of utility equals (approximately): 3 a. 140. b. 160. C. 180. d 192

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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I need answer typing clear urjent no chatgpt used i will give 5 upvotes

Suppose Joe's wealth is $20,000. If he falls ill, the expenses will cause his wealth to decline to $10,000.
Use the figure below to answer questions 6-8.
200
198
194
Total utility 170
of wealth
140
140.
a.
b. 160.
C. 180.
d. 200.
A
Certainty
Utility
a. 140.
b. 160.
10,000
C. 180.
d. 193.
D'
Wealth
1
6. If the probability of illness is -
4
F
a. $12,500.
b. $15,000.
c. $17,500.
d. $19,000.
7. If the probability of illness is
C
15,000
8. If the probability of illness is
C
Expected Utility
19,000 20,000
the expected wealth equals:
the expected utility equals:
the certainty level of utility equals (approximately):
2
3

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