-The Above Figure Shows Bob's Utility Function

question 61

Multiple Choice

-The above figure shows Bob's utility function.He currently has $100 of wealth,but there is a 50% chance that it could all be stolen.Bob will buy theft insurance to cover the full $100

• A) as long as it does not cost more than $25.
• B) as long as it does not cost more than $50.
• C) as long as it does not cost more than $70.
• D) at any price.

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