John's utility of wealth curve is shown in the above figure. He currently has wealth of $20,000. If there is a 10 percent chance that he could lose all his wealth, what is his expected wealth?

An illustration of a non-credible commitment is the promise

a. to not increase capacity in a declining industry b. to match a new entrant's discount price c. to enter a profitable industry d. to restrain output to the quota assigned by a cartel e. to exit in the face of projected losses.

Refer to the following graph.The point on the graph corresponding to the socially optimal output per year and the price sellers must receive to make that amount available is shown by point:

A. H. B. K. C. G. D. I.