$$\text { A decision maker has a utility function } U = \sqrt { I } \text {. This decision maker is: }$$

question 11

Multiple Choice

$$\text { A decision maker has a utility function } U = \sqrt { I } \text {. This decision maker is: }$$

• A)risk-averse.
• B)risk-neutral.
• C)risk-loving.
• D)risk-gaining.

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Definitions:

Collude

To cooperate with others secretly or unlawfully to deceive or gain an unfair advantage, often in a way that is deceitful or fraudulent.

Cartels

Organizations or associations formed by businesses in the same industry to regulate production, fix prices, or otherwise control and limit competition.

OPEC

The Organization of Petroleum Exporting Countries, an intergovernmental organization focused on coordinating and unifying petroleum policies among its member countries to secure fair and stable prices for petroleum producers.

Cartel

An agreement among competing firms to control prices or exclude entry of a new competitor in a market, often to maximize their collective profits.