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Jimmy owns a lottery ticket that has a 50% chance of winning $1000 (and a 50% chance of paying nothing). Because Jimmy is risk averse,

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Jimmy owns a lottery ticket that has a 50% chance of winning $1000 (and a 50% chance of paying nothing). Because Jimmy is risk averse, with preferences consistent with the utility function graphed below, he is indifferent between owning the lottery ticket or owning $400 in cash. True or false: if the probability of the lottery ticket winning decreases to 25%, Jimmy will be willing to sell the lottery ticket for $150

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