Multiple Choice
Rahul has a concave utility function. Therefore, if there are two choices, he will pick the ________ if ________ expected value.
A) fair bet; both have the same
B) less risky choice; both have the same
C) more risky choice; both have the same
D) less risky choice; it has a lower
Correct Answer:
Verified
Correct Answer:
Verified
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