Question: Horrace Greedly uses the utility function U(C) = 50.2% + 100 to make investment decisions. He is presented the following opportunity: for an initial price

Horrace Greedly uses the utility function U(C) = 50.2% + 100

Horrace Greedly uses the utility function U(C) = 50.2% + 100 to make investment decisions. He is presented the following opportunity: for an initial price of X, > 0, he will have a 64% chance of receiving 200 and a 36% chance of receiving nothing. What is the highest price X, that Horrace would be willing to pay? Give an exact response; decimal approrimations will receive no credit. Horrace Greedly uses the utility function U(C) = 50.2% + 100 to make investment decisions. He is presented the following opportunity: for an initial price of X, > 0, he will have a 64% chance of receiving 200 and a 36% chance of receiving nothing. What is the highest price X, that Horrace would be willing to pay? Give an exact response; decimal approrimations will receive no credit

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