(See Problem 11

question 6

Multiple Choice

(See Problem 11.) Jonas's expected utility function is , where p is the probability that he consumes c₁ and 1 - p is the probability that he consumes c₂. Jonas is offered a choice between getting a sure payment of $Z or a lottery in which he receives $3,600 with probability .10 or $6,400 with probability .90. Jonas will choose the sure payment if

• A) Z > 6,084 and the lottery if Z < 6,084.
• B) Z > 4,842 and the lottery if Z < 4,842.
• C) Z > 6,400 and the lottery if Z < 6,400.
• D) Z > 6,242 and the lottery if Z < 6,242.
• E) Z > 6,120 and the lottery if Z < 6,120.

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Definitions:

Health

A state of complete physical, mental, and social well-being, not merely the absence of disease or infirmity.

Well-Being

The state of being comfortable, healthy, or happy, encompassing both physical and mental health and general life satisfaction.

Dieting Behavior

The intentional control or regulation of food intake to achieve or maintain a desired weight.

Weight Problems

Issues related to being over or underweight, affecting one's health or well-being.