Matt's Utility Function Wealth Utility $50,000 7000 51,000 7250 52,000 7499 53,000 7746 If Matt's current wealth is $51,000, then
a. his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000 . Matt is risk averse.
b. his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000 . Matt is not risk averse.
c. his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000 . Matt is risk averse.
d. his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000 . Matt is not risk averse.
c
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