Which of the Following Statements Is True About the Value

question 52

Multiple Choice

Which of the following statements is true about the value function?

• A)It is a mathematical formulation that seeks to explain observed behavior by making assumptions about preferences.
• B)Economists say that it is risk seeking in losses and risk averse in gains.
• C)In the language of mathematics it is concave in losses and convex in gains.
• D)Economists say that it is risk averse in losses and risk seeking in gains.
• E)The nature of the value function is such that it is much steeper in gains than in losses.

---

Definitions:

Embed The PDF

To insert a PDF file directly into another document or webpage so that it is fully displayed or accessible within the first document.

Screenshot Of The PDF

Capturing the displayed image of a PDF document in the form of a picture to save or share as an image file.

Copy The Text

The action of duplicating text from one location to another.

Create A Link

The process of establishing a hyperlink in a document or webpage that directs to another location or file when clicked.