Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 1 Day Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Economics Posted 27 Jun 2018 My Price 5.00

sunflower farmer

"In this third activity, the farmer works during the week as a sunflower farmer, and works in construction during the weekend. Since she is not able to work full time on the farm, the probability of having a GOOD harvest and earning $140 drops to 25%, and the probability of having a BAD harvest and earning only $20 increases to 75%. The individual also earns $20 with certainty as a construction worker (the person earns this $20 from construction in addition to her farm income under both a GOOD and BAD harvest)." I have to find the Expected value of utility, the certainty equivalent and the Risk Premium of this activity. The U(C) = 20C-0.05C^2 . The answers I got were Exp. Value of U = 1120, CE = 67.33 and RP = 2.67. I don't think it's right, can you confirm?

Answers

Maurice Tutor
(5)
Status NEW Posted 27 Jun 2018 09:06 PM My Price 5.00

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