Felix’s income to spend on either bowling or eating out each month is $100. It costs $10 to bowl for the night and it costs $20 for Quinn to eat at a restaurant. A point on Felix’s budget constraint would be:

If Ann's utility function is U = W^0.5, and she invests in a business which can yield $6,400 with probability 1/5, and $3600 with probability 4/5, then her expected utility is

The concept of marginal utility:

Catherine is risk-averse. When faced with a choice between a gamble and a certain level of wealth, she will: