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Frank Willis Has the Right to Enter a Contest Where

question 27

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Frank Willis has the right to enter a contest where he has a 50% chance of winning $50,000 and a 50% chance of losing $0.It costs Frank nothing to enter the contest.If he is willing to give up his right to enter the contest for a sure payment of $10,000, he is ___.


Definitions:

Motivation

The psychological forces that determine the direction of a person's behavior in an organization, a person's level of effort and a person's level of persistence.

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