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Why are some bacteria resistant to penicillin?
Probability
A quantitative assessment of an event's chances of happening, with values from 0 to 1 indicating the likelihood.
Utility Function
(Of an individual) the total utility generated by an individual’s consumption bundle.
Risk-Averse
A characteristic of individuals who prefer certain outcomes over others with equal or potentially higher expected returns but with more uncertainty.
Income
The financial gain earned or received by an individual or entity, usually through work, investments, or other forms of economic activities.
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