An individual owns two assets: an initial wealth of $20, and a lottery ticket which will pay a prize of $10 with probability 0.5 and nothing with probability 0.5.

Find the minimum price at which the individual is willing sell his lottery ticket if his utility function is:

a. u(x) = x
b. u(x) = x2
c. How do you reconcile the difference between the answers found for (a) and (b)?

Since opening night, attendance at play a has increased steadily, while attendance at play b first rose and then fell. equations modeling the daily attendance y at each play are shown below, where x is the number of days since opening night. on what day(s) was the attendance the same at both plays? what was the attendance? play a: y = 8x + 191 play b: y = -x^2 + 26x + 126 a. the attendance was never the same at both plays. b. the attendance was the same on day 5. the attendance was 231 at both plays on that day. c. the attendance was the same on day 13. the attendance was 295 at both plays on that day. d. the attendance was the same on days 5 and 13. the attendance at both plays on those days was 231 and 295 respectively.