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Instructions: Please write a thorough, well-organized essay to answer each question. Compare and contrast the Hellenic and Hellenistic periods of Greek civilizations.
Probability
A numeric expression ranging between 0 and 1 that signifies the chances of an event's occurrence.
Utility
The total satisfaction received from consuming a good or service.
Expected Utility Maximizer
An economic agent who selects the option that maximizes the anticipated utility, based on certain probabilities and outcomes.
Utility Function
A mathematical representation of how a consumer ranks different bundles of goods or levels of happiness.
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