Use the Following to Answer Questions

question 113

Multiple Choice

Use the following to answer questions:
-(Table: Natasha's Total Utility) Look at the table Natasha's Total Utility. Natasha earns $50,000 per year but faces losing $20,000 of it if she is late with her work. If there is a 25% probability that Natasha will be late with her work and her income will equal $30,000, To guarantee an income of $50,000, Natasha would be willing to pay _____ for insurance.

• A) $4,000
• B) $5,000
• C) $7,500
• D) $9,500

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Definitions:

Intellectuals

Individuals engaged in critical thinking and analysis, especially concerning societal issues, and who often articulate new ways of understanding the world.

Bourgeoisie

The class in capitalist societies who own the means of production and are traditionally associated with wealth, materialism, and the pursuit of profit.

Class Consciousness

The awareness of one's own social class and its interests, often in the context of the struggle between different social classes.

Economic Elites

Individuals or groups who hold substantial wealth and power within an economy, often influencing political and economic policies.