Asked by kayla magness on Jul 05, 2024

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Darcy enjoys a day at the racetrack and doesn't really care if she ends up with a little more or little less money at the end of the day.What most likely influences Darcy's decision to go to the racetrack

A)  expected value
B)  subjective utility 
C)  unexpected value
D)  objective utility

Subjective Utility

The perceived value or benefit of an action or choice to an individual, based on personal preferences and feelings.

Expected Value

A statistical concept representing the average outcome of a random event when the process is repeated many times.

  • Explain the concept of subjective and objective utility and its influence on personal decisions.
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KA
Korede AiyejutoJul 10, 2024
Final Answer :
B
Explanation :
Subjective utility refers to the personal satisfaction or enjoyment someone gets from a particular activity or outcome. In this case, Darcy's decision to go to the racetrack is likely influenced by the enjoyment she gets from the experience, rather than any financial gain or loss she may experience.