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You are considering a lottery that gives either $100 with 50% chance or $200 with 50% chance. Suppose your utility function can be assessed by:

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You are considering a lottery that gives either $100 with 50% chance or $200 with 50% chance. Suppose your utility function can be assessed by: U(x) = log x. (1) What is the expected value of the lottery? (2) What is the expected utility of the lottery? (3) What is the utility of the expected value of the lottery? (4) What is the certainty equivalent? (5) What is the risk premium

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