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Result of the reimbursement offer

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Reference no: EM131049420

Suppose that Lady Gaga goes to Las Vegas to play poker and at the last minute her record company says it will reimburse her for 65 percent of any gambling losses that she incurs.

a. Will Lady Gaga wager more or less as a result of the reimbursement offer?

b. What economic concept does your answer illustrate?

Reference no: EM131049420

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