What is the expected return to buying a ticket in lottery, Macroeconomics

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What is the expected return to buying a ticket in lottery

Problem

Imagine a lottery in which 1 million tickets are sold at $1 apiece, and the winning ticket receives a prize of $700,000. What is the expected return to buying a ticket in this lottery? Will a risk-averse person buy a ticket in this lottery?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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