Tim is offered two gambles. With Gamble A, he either gains $2 or loses $1 with a 50 percent probability. With Gamble B, he either gains $3 or loses $2 with a 50 percent probability. Tim prefers Gamble B to Gamble A. What can we conclude? a. Tim is risk loving. b. Tim is risk neutral. c. Tim is risk averse. d. Insufficient information to determine.
Tim is offered two gambles. With Gamble A, he either gains $2 or loses $1 with a 50 percent probability. With Gamble B, he either gains $3 or loses $2 with a 50 percent probability. Tim prefers Gamble B to Gamble A. What can we conclude? a. Tim is risk loving. b. Tim is risk neutral. c. Tim is risk averse. d. Insufficient information to determine.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Ma4.
Please give only typed answer.
Transcribed Image Text:MC 08
Tim is offered two gambles. With Gamble A, he either gains $2 or loses $1 with a 50 percent probability.
With Gamble B, he either gains $3 or loses $2 with a 50 percent probability. Tim prefers Gamble B to
Gamble A. What can we conclude?
MC 09
a. Tim is risk loving.
b.
Tim is risk neutral.
c. Tim is risk averse.
d. Insufficient information to determine.
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If the price of pork chops falls from $8 to $6, and this leads to an increase in demand for apple sauce
from 100 to 140 jars, what is the cross-price elasticity of apple sauce and pork chops at a pork chop price
of $6?
MC 10
a. -1.17
b. 2.71
C. 0.42
d. -0.86
A study has estimated the effect of changes in interest rates and consumer confidence on the demand
for money to be
In M = 14.666 +.021 In C -0.036 In r,
where M denotes real money balances, C is an index of consumer confidence, and r is the interest rate
paid on bank deposits. Based on this study we know that the interest elasticity is:
a. Unitary
b. Zero
C verv elastic
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