‘Which of the followings are true about a fair game or fair bet ?
A. The entry of a fair bet is zero
B. The person who accepts fair bet is said to be risk lover
C. expected value of income from the bet is equal to the same amount of income with certainty
D. The person who refuses a fair bet is said to be risk neutral
E. The person who refuses a fair bet is said to be risk averse.
Choose the correct answer from the options given below:
1
A and C only
2
B and E only
3
C and D only
4
C and E only