1. Explain the concepts of “utility of wealth facing a fair bet” and “comparing

1. Explain the concepts of “utility of wealth facing a fair bet” and “comparing two fair bets of differing variability” by drawing two curves and describing them.
2. Discuss the methods for reducing uncertainty and risk. Use examples to elaborate your answer.
All answers in chapter 7 in this book or PowerPoint”
Write the same word in the word and sentence in this book

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