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There is a 20 percent chance that you will earn $20,000; a 20 percent chance that...

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Economics

There is a 20 percent chance that you will earn $20,000; a 20 percent chance that you will earn $40,000; and a 60 percent chance you will earn $60,000. Your expected earnings are Question 25 options: 1) $36,000. 2) $48,000. 3) $50,000. 4) $56,000.

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