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Bob's utility function is shown in the diagram to the right. In a world of certainty, Bob's wealth is Bob's Utility of Wealth $50,000. Utility

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Bob's utility function is shown in the diagram to the right. In a world of certainty, Bob's wealth is Bob's Utility of Wealth $50,000. Utility 250 His utility at this level of wealth under conditions of certainty is |(enter your response as a 225- whole number). C 200- U(Wealth) Unfortunately, Bob lives in a world of uncertainty. With a mix of bad and sometimes good luck, Bob finds that his level of wealth is $30,000 80% of the time and $100,000 20% of the time. 175 A 150- In this uncertain world, Bob's expected utility is |(enter your response as a whole number). 125 B 100- 75- 50- 25 50 100 Wealth (thousands)

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