Final Exam: Economics 384
The exam is out of 120 points. Use the points as a guide to how much time you should spend on each
Write your student ID Number on the front cover of each white book you use.
Write all answers in the white
John and Jane's boss offers a reward for their hard work. He offers to give them each $10.00 or
flip a coin and give the winner $20.00. John wants to take the $10.00 but Jane wants the chance
to win the $20.00.
a. The expected payout is $10.00 for both