Lanas choices are consistent with the expected utility


Lana's choices are consistent with the Expected Utility Hypothesis. She knows that she will get $150 in value from phone A. For phone B, there is a 50% chance that it will be worth $200 and a 50% chance it will be worth $100. True, False or Uncertain?: If the price of phone A is the same as the price of phone B, then Lana is indifferent between the two phones. Explain why for your answer?

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Business Economics: Lanas choices are consistent with the expected utility
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