# Consumer’s Utility Function Assignment | Homework For You

A .consumer’s utility function is (as shown below) where w is wealth. His initial wealth consists of \$4 plus a lottery ticket which pays off \$12 with probability 1/2 and \$0 with probability 1/2. This consumer’s preferences over lotteries obey the expected utility hypothesis.

Don't use plagiarized sources. Get Your Assignment on
Consumer’s Utility Function Assignment | Homework For You
Just from \$13/Page

Suppose p denotes the lowest price at which this consumer will willingly . part with his lottery ticket.

.~ (a) (b) A consumer’s utility function is u(to) = to“ where to is wealth. Hisinitial wealth consists of- 34 plus a lottery ticket which pays of 812with probability 1/2 and \$0 with probability 1/2. This-consumeﬂspreferenoes over lotteries obey the expected utility hypothesis. Suppose p denotes the lowest price st which this consumer will willingly ‘part with his lottery ticket.

Show that it _ ’01 +31)“ 11101 + p) + 1(ln16)16&quot; 4. 10,14)”d“ ._ 06”)“ Hint: although in” is 93&quot;“, if is y’lny.Doespinereaseor decreasensa increases slightly from or =1? (HEDU’do not have a calallator or for any other reuon you do not wish tonumerically simplify your answer, that is ﬁne; as long as your answerhas only numbers and no variables, it is simpliﬁed enough. You shouldexplain how you would answer the question__if you had a calculator, though.) Get Economics homework help today

Calculate the price
Pages (550 words)
\$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Computer science
Excellent.
Customer 462387, April 4th, 2022
Military
Good job
Customer 456821, January 11th, 2023
Communications
The best writer. Thank you!
Customer 462787, August 1st, 2022
well done
Customer 452441, April 14th, 2022
Other
Excellent job. I was sure the writer will do a perfect job and submit on time. Thank you!
Customer 462359, November 19th, 2022
Interior Decoration
Excellent work! We look down to your future contribution
Customer 463463, November 16th, 2022
Healthcare & Medical
Good work
Customer 463469, October 22nd, 2022
Statistics
Super professional and highly qualified. Excellent customer service.
Customer 462485, May 29th, 2022
Retail
Customer 463463, November 11th, 2022
Other
Good work.
Customer 455119, May 27th, 2022
English 101
Thank you!
Customer 454351, May 9th, 2020
Nursing
Awesome! Thanks
Customer 454007, June 19th, 2020
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend