Figure 14-4

question 339

Multiple Choice

Figure 14-4. The figure shows a utility function for Dexter.
-Refer to Figure 14-4. From the appearance of the utility function, we know that

• A)Dexter is risk averse.
• B)Dexter gains more satisfaction when his wealth increases by X dollars than he loses in satisfaction when his wealth decreases by X dollars.
• C)the property of decreasing marginal utility applies to Dexter.
• D)All of the above are correct.

Comprehend the role of unions in employee wages and conditions.

Recognize the concept of efficiency wages and their purpose.

Identify factors leading to wage disparities due to differences in human capital, talent, and ability.

Understand compensating differentials and their impact on wages.

---

Definitions:

Thymoma

A tumor originating from the thymus gland, which can be either benign or malignant and can affect the immune system.

Thymitis

An inflammation of the thymus gland, which can disrupt the normal development of the immune system in the body.

Hemochromatosis

A genetic disorder causing excessive absorption of iron from the diet, leading to the accumulation of iron in the body and potential organ damage.

Chromat

Pertains to color, used in terms and contexts related to coloring or pigmentation, as in chromatography.