For a Risk Averse Person, an Increase in Wealth Brings

question 164

Multiple Choice

For a risk averse person, an increase in wealth brings ________ total utility of wealth and ________ marginal utility of wealth.

• A) higher; higher
• B) higher; lower
• C) lower; higher
• D) lower; lower

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Definitions:

Affects

Refers to the consequence or impact of one thing on another; can also refer to emotive expressions in psychology.

Clawed Toes

A condition where toes possess or resemble claws, often referring to a deformity or an animal's natural characteristic.

Down Covered Neck

A description typically relating to birds or articles of clothing where the neck region is covered with soft, fine feathers or down-like material.

Tremendously Strong Kicks

Powerful and forceful kicks, often described in the context of martial arts or sports.