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Expected utility functions have to be concave if they are to represent risk averse tastes.
Q3: The certainty equivalent is less than the
Q7: If the government does not know the
Q8: Suppose ordinarily half your class would get
Q13: Technologically efficient production plans are also economically
Q15: Regardless of whether or not screening or
Q17: Non-credible threats that are made in a
Q18: The recent crisis in the U.S.housing market
Q19: The balanced budget multiplier is always negative.
Q19: The consumer-side deadweight loss from a per-unit
Q31: The statutory incidence of a tax is