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You have $9 and preferences given by U = M1/2.Which of the following options is most attractive? Select one: a.Pay all your money ($9) for

You have $9 and preferences given by U = M1/2.Which of the following options is most attractive?

Select one:

a.Pay all your money ($9) for a lottery ticket that has a 1 in 4 chance of winning $100.

b.Pay $5 for a lottery ticket that has a 50-50 chance of winning $21.

c.Do nothing.

d.Get a free lottery ticket that has a 1 in 3 chance of winning $91.

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