For a risk-averse individual, as wealth increases, total utility ________ and marginal utility ________
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
B
Economics
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Suppose the price of coffee is $3 each, the price of bagels is $2 each and a person's budget is $40. The person's real income is
A) $40. B) $13.33 in terms of bagels. C) $13.33 in terms of coffee. D) $8.
Economics
In 1939 the U.S. economy was operating at point ________.
A. A
B. B
C. C
D. D
Economics