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-Refer to Figures D and E

Question 15

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-Refer to Figures d and e.Water is crucial for survival,but it is particularly valuable during a drought when water is scarce.The probability of a drought is (1-P) ,W<sub>D</sub> represents the quantity of water in a drought,while W<sub>R</sub> represents the quantity of water in a rainy season.Which set of indifference curves above best represent a relatively high probability of a drought? A) Figure d B) Figure e C) Probabilities do not influence indifference curves D) Neither
-Refer to Figures d and e.Water is crucial for survival,but it is particularly valuable during a drought when water is scarce.The probability of a drought is (1-P) ,WD represents the quantity of water in a drought,while WR represents the quantity of water in a rainy season.Which set of indifference curves above best represent a relatively high probability of a drought?


A) Figure d
B) Figure e
C) Probabilities do not influence indifference curves
D) Neither

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