Your current salary is a fixed sum of $50,625 per year.
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Your current salary is a fixed sum of $50,625 per year. You have an offer for another job. The salary there is a flat $2
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Your current salary is a fixed sum of $50,625 per year. You have an offer for another job. The salary there is a flat $25,000 plus a chance to earn $150,000 if the company does well. Assume that your utility from income can be expressed as . So, for example, at an income level of $100, your utility level is 10; your utility level from the current salary of $50,625 is 225. How high does the probability of success for the company have to be to induce you to take this job?
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