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Mia Dribble has a utility function u=W 2/3 . Mia is a basketball star starting her senior year. If she makes it through her senior year without a serious injury, she will receive a $8,000,000 contract for playing in the new professional women's basketball league (the $8,000,000 includes endorsements). If she injures herself, she will receive a $64,000 contract for selling concessions at the basketball arena. There is a 20 percent chance that Mia will injure herself badly enough to end her career.
(i) What is Mia's expected utility? What is the expected value and the variance of her income?
(ii) What is Mia's risk premium?
(iii) Suppose that Mia; is offered an insurance policy at the rate p=0.25 How much of insurance would Mia buy?
For each event given below, respond to the following points using the determinants of demand and supply A. Determine whether demand or supply changes or if the event instead causes a change in quantity demanded or quantity supplied.
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a manufacturing company leases a machine for 31812 per year. each unit produced costs 36 in labor and 72 in materials.
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In the short run changes in GDP can be thought of as stemming from changes in the employment rate of labour, while in the long run, changes in GDP can be thought of as stemming from changes in the labour force and/or changes in labour productivity..
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What is the elasticity of demand between the two points labeled A and B on the demand curve below?
Normal 0 false false false EN-US X-NONE X-NONE Write a brief summary explai..
Suppose that the economy is thought to be 2 percent above potential (that is, the output gap is 2 percent) when potential output grows 4 percent per year. Suppose also that the Fed is following the Taylor rule, with an inflation rate of 2 perce..
the most common technology used for dry cleaning clothing uses toxic substances that if disposed of in drains will
Identify a company that might be worth much more if it were broken into pieces and valued (using EVA) separately. The rationale for this difference can perhaps be explained by the difficult investors have valuing companies with multiple business u..
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