Opportunity costs This exercise refers to Figure 3.3. Suppose that a fifth act (call it a5 )
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Opportunity costs This exercise refers to Figure 3.3. Suppose that a fifth act (call it a5 ) becomes available. Assume that a5 has a utility of 9.
(a) What would the tree look like now?
(b) What would happen to the opportunity costs of the different alternatives?
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Related Book For 
A Course In Behavioral Economics
ISBN: 9781352010800,9781352010817
3rd Edition
Authors: Erik Angner
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