Which Economists Accounted for "Rational Addicton" in Utility Functions

question 41

Multiple Choice

Which economists accounted for "rational addicton" in utility functions?

• A) Gary Becker and Kevin Murphy
• B) William Jevons and Albertus Magnus
• C) Richard Cantillon and Jeremy Bentham
• D) Edwin Chadwick and David Ricardo

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Definitions:

Dishonor

In the context of finance, refers to the refusal or inability of a party to pay a debt when it is due.

Instrument

A formal legal document, such as a contract, will, promissory note, or warrant, that establishes rights, privileges, or liabilities.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date.

Fraudulently Changes

The act of deceitfully altering information or documents with the intent to gain an unauthorized benefit or to deceive others.