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Monicas utility is determined by his wealth such that ulogw

Monica's utility is determined by his wealth such that U=log(w) , where W is his wealth in dollars. If he has a current wealth of $350,000, approximately what is the most he would willingly pay to insure against a 1% chance of losing half of his wealth?

$2,417
$1,570
$554.40
$5.54

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Business Management: Monicas utility is determined by his wealth such that ulogw

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