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Game Theory, show steps thank you 1. Ali is offered a choice between the following two money lotteries: A = 1monthVacation NoVacation and B =

Game Theory, show steps thank you

1. Ali is offered a choice between the following two money lotteries: A = 1monthVacation NoVacation and B = 1weekVacation 0.8 0.2 He says he strictly prefers B to A. Which of the following two lotteries, C and D, will Ali choose if he satisfies the axioms of expected utility and prefers a longer vacation to a shorter vacation? C = 1monthVacation NoVacation 1weekVacation NoVacation and D = 0.2 0.8 0.25 0.75

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