The questions are flawed because many entrepreneurs have already used up all their risk seeking "slack" and might quite rationally prefer to lose $50 over a 1%

The questions are flawed because many entrepreneurs have already used up all their risk seeking "slack" and might quite rationally prefer to lose $50 over a 1% chance of losing $1500, since a $50 loss could be dealt with more easily in the context of a ramen budget... while a $1500 loss might destroy the company entirely. In other words, just because you are in a casino and put all your money on double zero doesn't mean that you should also play russian roulette with a pistol while the roulette wheel is spinning.