Table 27-1
​ $\text { Kevin's Utility Function }$ ​
​
-Refer to Table 27-1

question 22

Multiple Choice

Table 27-1
​
$\text { Kevin's Utility Function }$
$\begin{array} { | c | c | } \hline \begin{array} { c } \text { W ealth } \\\text { (Dollars) }\end{array} & \text { Utility } \\\hline 50,000 & 3,000 \\\hline 51,000 & 3,140 \\\hline 52,000 & 3,266 \\\hline 53,000 & 3,373 \\\hline\end{array}$ ​
​
-Refer to Table 27-1. If Kevin's current wealth is $51,000, then

• A)his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000.Kevin is risk averse.
• B)his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000.Kevin is not risk averse.
• C)his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000.Kevin is risk averse.
• D)his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000.Kevin is not risk averse.

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Definitions:

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