An Individual's Preference Is Characterized by the Diminishing Marginal Utility

question 47

Multiple Choice

An individual's preference is characterized by the diminishing marginal utility function.Identify the risk attitude of this individual.

• A)Risk seeking
• B)Risk averse
• C)Risk loving
• D)Risk neutral
• E)Risk biased

---

Definitions:

Foreign Corrupt Practices Act

A U.S. law that prohibits companies and their individuals from bribing foreign officials to gain a business advantage.

Bribes

Payments or gifts given with the intention of influencing the actions of an individual in a position of power or authority.

Foreign Government Officials

Representatives or employees of a government from a country other than one's own, including diplomats, ministers, and other officials.

Legal System

The comprehensive framework of rules, regulations, practices, and institutions through which laws are created, interpreted, and enforced within a country or jurisdiction.