Lecture+10+quiz

Lecture+10+quiz - Quiz is concave Question 1 If the utility...

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Question 1: If the utility function over consumption, ݑሺݔ) , is concave, then preferences over gambles will be: A. Independent. B. Interdependent. C. Risk-averse. D. Risk-loving. E. Complete. Quiz Question 2: An insurance contract that leaves the insured individual with the same expected value as without the insurance is called: A. Incomplete insurance. B. Complete insurance. C. Risk-neutral insurance. D. Actuarily fair insurance.
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This note was uploaded on 02/07/2011 for the course ECON 100A taught by Professor Woroch during the Fall '08 term at Berkeley.

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Lecture+10+quiz - Quiz is concave Question 1 If the utility...

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