Multiple Choice
Refer to the data provided in Table 17.5 below to answer the following question(s) . The table shows the relationship between income and utility for Lucy.
Table 17.5
-Refer to Table 17.5. Lucy earns $20,000 annually. She has the opportunity to bet her entire salary on the upcoming super bowl. If Lucy takes the bet, she will pick the Packers. She believes that the Packers have a 50-50 chance of winning the game. If the Packers win, then Lucy will win $38,000. However, if they lose she loses her entire salary ($0) . Will Lucy take the bet?
A) yes
B) no
C) maybe
D) indeterminate from the given information
Correct Answer:

Verified
Correct Answer:
Verified
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