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Let a game of luck whereby the participant rolls a die and collects an amount of dollars equal to the number on the side that
Let a game of luck whereby the participant rolls a die and collects an amount of dollars equal to the number on the side that looks up. A person is risk averse, if the maximum amount a person is willing to pay in order to participate in that game is equal to or less than
a. | $3.50 | b. | $6.00 | c. | $4.74 | d. | $2.42 |
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