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A lottery offers INR 10,000 with probability 0.25. INR 16 with probability 0.25 and INR 1 with probability 0.5. What is the certainty equivalent of

A lottery offers INR 10,000 with probability 0.25. INR 16 with probability 0.25 and INR 1 with probability 0.5. What is the certainty equivalent of the above lottery for a person with a log utility function i.e. u(x)= log(x)

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