A Risk-Averse Person Has

question 51

Multiple Choice

A risk-averse person has

• A)a utility function whose slope gets flatter as wealth rises.This means they have increasing marginal utility of wealth.
• B)a utility function whose slope gets flatter as wealth rises.This means they have diminishing marginal utility of wealth.
• C)a utility function whose slope gets steeper as wealth rises.This means they have increasing marginal utility of wealth.
• D)a utility function whose slope gets steeper as wealth rises.This means they have diminishing utility of wealth.

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Definitions:

Joern Utson

An incorrect spelling of Jørn Utzon, a Danish architect known for designing the iconic Sydney Opera House in Australia.

Segregation

The enforced separation of different racial groups in a country, community, or establishment, often discussed in the context of historical and modern racial policies.

Robert Frank

An influential Swiss-American photographer and filmmaker, best known for his 1958 book "The Americans" which captured candid moments of American society.

New Orleans

A multicultural city in the state of Louisiana, celebrated for its vibrant music scene, distinct French and Spanish Creole architecture, and annual Mardi Gras festival.