5a 10 points Set your utility for 0 to be 0 and 1 million to
5a. (10 points) Set your utility for $0 to be 0 and $1 million to be 100. Use the simple decision tree used in determining the utility for money, where the lottery has a prize of $1 million if you win and $0 if you lose, to determine your utility for $500,000 and $200,000. Use these 4 utilities to draw yourutility curve for money.
Solution
