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    Intermediate Microeconomics
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    Exam 4: Uncertainty
  5. Question
    A Gamble Can Be Described as "Fair" If the Expected
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A Gamble Can Be Described as "Fair" If the Expected

Question 5

Question 5

Multiple Choice

A gamble can be described as "fair" if the expected value of the gamble (including any costs of play) is


A) positive.
B) zero.
C) negative.
D) one.

Correct Answer:

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