=+e. Consider what you were asked to do in A(e). Can you show how the MRS changes
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=+e. Consider what you were asked to do in A(e). Can you show how the MRS changes as d changes? (Hint: Express the expected utility function in terms of xUNC and xD and derive the MRS.) For what value of d is the $500 bet on Duke the optimal bet to place?
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Muhammad Umair
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Related Book For 
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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