In economic terms, what is the difference between risk and uncertainty?

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Managerial Economics

ISBN: 978-0324588866

12th edition

Authors: Mark Hirschey

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Question Posted: Feb 13, 2015 09:56 AM

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In economic terms, what is the difference between risk and uncertainty?

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Economic risk is the chance of loss because all possible outcomes and their probability of happening ...View the full answer

Managerial Economics

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