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15. If Olivia is risk-averse, which of the following is true? a) Her certain equivalent of a lottery is greater than the expected value of

15. If Olivia is risk-averse, which of the following is true? a) Her certain equivalent of a lottery is greater than the expected value of that lottery. b) She is willing to pay a premium to avoid risks. c) She is automatically a deltaperson. e Both a and b. Both b and c

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