The last $2,000 of Rolanda's wealth adds less to her utility than the previous $2,000 . Based on this information, Rolanda has
a. increasing marginal utility of wealth and is risk averse.
b. increasing marginal utility of wealth and is not risk averse.
c. decreasing marginal utility of wealth and is risk averse.
d. decreasing marginal utility of wealth and is not risk averse.
c
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The GI bill:
a. provided returning servicemen a number of benefits. b. called for price controls in agriculture. c. provided incentives for greater women participation in the work force. d. outlawed certain union practices.
Long lines and gasoline shortages during the 1970's can be attributed completely to the decision by OPEC to raise crude oil prices
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of a monopolistically competitive firm?
a. a frozen yogurt shop b. a pharmaceutical firm c. Honda Motor Corporation d. DeBeers Diamonds
When a good ends up undersupplied, we can assume it is a:
A. private good. B. public good. C. common resource. D. transitory good.