Bobby is offered a job as a salesperson in which there is a 50 percent chance that he will make $2,000 and a 50 percent chance that he will make $10,000. Bobby's utility of wealth curve is shown in the figure above. What is Bobby's cost of risk?

A) $1,000
B) $2,000
C) $3,000
D) $4,000

Economics

What is economic surplus? When is economic surplus at a maximum?

What will be an ideal response?

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Economics

In the long run import quotas do not affect the size of net exports

a. True b. False Indicate whether the statement is true or false

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Economics