An increase in Meta's wealth from $3,000 to $6,000 raises her utility from 80 units to 100 units. If she is risk averse, with a wealth of $9,000 her utility might be
A) 99 units.
B) 114 units.
C) 120 units.
D) 126 units.
B
You might also like to view...
Unemployment taxes are collected from both employees and employers.
A. True B. False C. Uncertain
Suppose price increases from $7.00 to $13.00. Using the mid-point formula, the percentage change in price is:
A. .0.6 = 60 percent. B. 0.6 = 60 percent. C. 70 percent. D. 130 percent.
A shift in the demand curve occurs when
a. suppliers place more goods on the market. b. the price of a good rises. c. consumers want to buy more or less than before at a given price. d. the price of the good falls.
Montesia is a country that produces kiwis. After the market for kiwis in Montesia is opened to international trade, there is a decrease in the domestic quantity supplied of kiwis and an increase in the domestic quantity demanded of kiwis. Montesia should: a. import kiwis
b. export kiwis. c. not participate in trade. d. impose a tariff on kiwis.