Diminishing marginal utility of wealth implies that the utility function
a. has increasing slope and a person is risk averse.
b. has increasing slope and a person is not risk averse.
c. has decreasing slope and a person is risk averse
d. has decreasing slope and a person is not risk averse.
c
Economics
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A) the marginal cost curve B) the marginal cost curve from a and above C) the marginal cost curve from b and above D) the marginal cost curve from d and above
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What is a government's budget constraint in the long run as opposed to a given time period?
What will be an ideal response?
Economics