Someone who is risk-averse has
A) diminishing marginal utility of wealth.
B) constant marginal utility of wealth.
C) increasing marginal utility of wealth.
D) less marginal utility of wealth than someone who is risk-neutral.
A
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Which of the following is a fixed cost for Wendy's Hamburgers?
a. the cost of beef b. electricity to light up the Wendy's sign c. gasoline for the trucks that deliver supplies to the various franchises d. interest on funds borrowed to build new facilities e. expenditures on paper and plastic for packaging
Consider an economic model designed to analyze the purchasing decisions of households. An assumption that a household chooses between only two goods would be an example of a
a. simplifying assumption b. critical assumption c. macroeconomic assumption d. financial assumption e. positive assumption