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A risk-averse individual is offered a choice between a gamble that pays Rs1000 with a probability of 25% and Rs100 with a probability of

A risk-averse individual is offered a choice between a gamble that pays Rs1000 with a probability of 25% and Rs100 with a probability of 75%, or a payment of Rs320. The individual should Choose the gamble Choose the fix payment a. b. c. Individual is indifferent between two options d. Can't say

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