Because of the free-rider problem, it is necessary that public bureaus manufacture defense weapons

If finding the last stamp to complete your collection makes you even happier than finding the first, then your

a. marginal utility is zero b. marginal utility is negative c. total utility is decreasing d. total utility is constant e. marginal utility is not diminishing

Refer to Figure g. Lily's benefit function (dashed) is more concave than Millie's benefit function (dotted). Lily:

B. is less risk averse than Millie.

C. has a smaller risk premium than Millie.

D. has a larger certainty equivalent than Millie.