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Suppose Lily's Indifference Curves Are Defined as Where C

Question 2

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Suppose Lily's indifference curves are defined as Suppose Lily's indifference curves are defined as where C is a constant.Lily receives 64 units of food when it is sunny,F<sub>S</sub> and 16 units of food when there is a hurricane,F<sub>H</sub>.If the probability of sunshine is P = 0.75,the expected consumption is A) 52 B) 28 C) 40 D) 5 where C is a constant.Lily receives 64 units of food when it is sunny,FS and 16 units of food when there is a hurricane,FH.If the probability of sunshine is P = 0.75,the expected consumption is


A) 52
B) 28
C) 40
D) 5

Correct Answer:

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