Question 3 1 pts Referring to the previous question: imagine that you are the kind of person that doesn't like uncertainty: you are risk averse. Specifically, your utility function over money is u(x) = x0.5. What is your expected utility of the art purchase? ○ 500,000⁰.5 utils $900 ○ $900,0000.5 900 utils

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Question 3
1 pts
Referring to the previous question: imagine that you are the kind of person that doesn't
like uncertainty: you are risk averse. Specifically, your utility function over money is
u(x) = x0.5. What is your expected utility of the art purchase?
○ 500,000⁰.5 utils
$900
○ $900,0000.5
900 utils
Transcribed Image Text:Question 3 1 pts Referring to the previous question: imagine that you are the kind of person that doesn't like uncertainty: you are risk averse. Specifically, your utility function over money is u(x) = x0.5. What is your expected utility of the art purchase? ○ 500,000⁰.5 utils $900 ○ $900,0000.5 900 utils
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