Assume Brandon's Benefit Function for Water Is S(W)= √W and He

question 3

Multiple Choice

Assume Brandon's benefit function for water is S(W) = √W and he consumes water both in droughts,W_D,or in the rainy season,W_R.Assume his current consumption bundle is W_D = 36 and W_R = 25 and the probability of drought is 0.75.What is Brandon's expected utility?

• A) 5.75
• B) 33.25
• C) 11
• D) 30.5

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