Which of the following would be true if people made decisions based on maximizing their expected monetary return?
A)People wouldn't buy lottery tickets.
B)People wouldn't buy insurance.
C)People wouldn't participate in sports betting.
D)All of the above.

Question

Quizplus · Accepted Answer

If people made decisions based solely on maximizing their expected monetary return, they would not engage in activities such as buying lottery tickets, buying insurance (as it involves paying upfront for potential future losses), or participating in sports betting where the expected monetary return is not in their favor. Therefore, all of the options (A, B, and C) would be true.

Which of the Following Would Be True If People Made