Define expected utility
What will be an ideal response?
It represents the sum of the utilities coming from all possible outcomes of a deal, weighted by the probability of each occurring.
Economics
You might also like to view...
A bank has deposits of $400, reserves of $50, and the desired reserve ratio is 7 percent. The bank's excess reserves are
A) $28. B) $50. C) $22. D) $0. E) $3.50
Economics
Which of the following can serve as a barrier to entry?
a. legal restrictions b. patents c. control of scarce inputs or resources d. all of the above
Economics