Consider Two Identical Fishermen with Utility Functions U(x)= X/2, Where

question 35

Multiple Choice

Consider two identical fishermen with utility functions U(x) = x/2, where x is the number of fish caught. Assume that the probability of either fisherman catching a fish is .05 and that it is impossible for either of them to catch more than one fish. What is one fisherman's expected utility from fishing alone?

• A)0.05
• B)0.025
• C)0.5
• D)1.0

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