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mohan has the following utility function: u(w) = ln w where w = wealth a. what is the expected utility of the following prospects: p1

mohan has the following utility function: u(w) = ln w where w = wealth

a. what is the expected utility of the following prospects: p1 (0.7, 200, 600), p2 (0.6, 3000, 1,000), p3 (0.5, 4,000, 2,000)

b. what is the certainty equivalent of p3?

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