Amos Long's Marginal Utility of Income Function Is Given As

question 141

Multiple Choice

Amos Long's marginal utility of income function is given as: MU(I) = , where I represents income. From this you would say that he is:

• A) risk averse.
• B) risk loving.
• C) risk neutral.
• D) none of the above

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Definitions:

Causal

Relating to cause and effect; implying or concerned with the relationship between causes and their outcomes.

Control Variable

In research, a variable that is held constant to test the relative impact of an independent variable on a dependent variable.

Association

A connection or relationship between two or more variables, where changes in one variable correspond to changes in another.

Mean

In statistics, it is the arithmetic average of a set of numbers, calculated by adding them all up and dividing by the number of numbers.