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MICROECONOMIC THEORY I ECON 3013 Assignment 4 Due: April 10th 2018 Question 1 [10 Marks] Consider the choice between prospects A: (000,100,000 : $0,$1,000,000, $5,000,000)

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MICROECONOMIC THEORY I ECON 3013 Assignment 4 Due: April 10th 2018 Question 1 [10 Marks] Consider the choice between prospects A: (000,100,000 : $0,$1,000,000, $5,000,000) B: (001,089,010 : $0,$1,000, 000,$5,000,000) C : (090,000,010 : $0,$1,000,000,$5,000,000) D: (089,011,000 : $0,$1,000,000,$5,000, 000) Assuming utility is increasing in income, if someone prefers A to B and C to D, is their decision marking consistent? (HINT: Don't say YES)

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