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Old 08-14-2007, 12:33 AM
PowerRangers PowerRangers is offline
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Join Date: May 2007
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Default Discrete Utility question

In a country with 1 million people, whose average annual income is $50,000, there is a certain lottery in which people who want to play pay $10 for one ticket, and may buy as many such tickets as they want, would more people buy tickets more tickets if there is one grand prize of 1 million dollars and 1/5 of the players win their money back, or where there are 10000 ten thousand dollar prizes and 1/5 of the players win their money back?
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