You win an 'Economics of Thrones' contest and are faced with the following compensation choices:

Option A: Receive a guaranteed payment of $100 thousand.

Option B: Toss a fair 5 sided Phoenix pyramid to determine compensation:

lands Phoenix Head - receive compensation of $50 thousand.
lands Phoenix Tail - receive a compensation payment of $ 25 thousand
lands Phoenix Fire - receive a compensation payment of $ 125 thousand
lands Phoenix Death - receive a compensation payment of $ 500
lands Phoenix Rising - receive compensation payment of $ 500 thousand

What is the expected value of the Phoenix pyramid toss? What option (A or B) would you choose? Explain your economic "risk preference' rationale behind your choice. Give an example of an event that would cause you to change your option choice?

Which of the following are considered needs? check all that apply

Brian has been working for a few years now and has saved a substantial amount of money. he now wants to invest 50 percent of his savings in a bank account where it will be locked for three years and gain interest. which type of bank account should brian open? a. savings account b. money market account c. checking account d. certificate of deposit

Areal estate agent is considering changing her cell phone plan. there are three plans to choose from, all of which involve a monthly service charge of $20. plan a has a cost of $.42 a minute for daytime calls and $.17 a minute for evening calls. plan b has a charge of $.52 a minute for daytime calls and $.15 a minute for evening calls. plan c has a flat rate of $80 with 275 minutes of calls allowed per month and a charge of $.38 per minute beyond that, day or evening.a. determine the total charge under each plan for this case: 150 minutes of day calls and 70 minutes of evening calls in a month. (do not round intermediate calculations. round your answer to 2 decimal places. omit the "$" sign in your response.)c. if the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal? (round each answer to the nearest whole number.include the indifference point itself in each answer.)d. suppose that the agent expects both daytime and evening calls. at what point (i.e., percentage of total call minutes used for daytime calls) would she be indifferent between plans a and b?