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(Table: Choice with Uncertainty) Use Table: Choice with Uncertainty.Suppose that the probability that the sitcom does not make it to television is 30%,that it makes it to television but is not the most viewed show in its time slot is 50%,and that it makes it to television and is the most viewed show in its time slot is 20%.Given this information,Norman,as a utility maximizer:
A) should keep his teaching job.
B) should quit his teaching job and go to Hollywood.
C) will be indifferent between leaving and staying because his expected income is the same whether he stays a teacher or moves to Hollywood.
D) will be indifferent between leaving and staying because his expected total utility is the same whether he stays a teacher or moves to Hollywood.
On Jul 04, 2024