Business, 07.06.2020 00:03 autumn452392

Maggie must decide if she wants to open a start-up or work as an economics tutor. The business she is considering is risky because with 60% probability she earns $300 and with 40% probability she earns nothing. As an economics tutor she earns $160 with certainty. She has an initial wealth of $100 and her utility function is

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Maggie must decide if she wants to open a start-up or work as an economics tutor. The business she i...

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