A Decision Maker Can Be Described with Utility Which Is

question 52

Multiple Choice

A decision maker can be described with utility which is only a function of income.If this function is linear,the decision maker is

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

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Definitions:

Consumer

An individual who purchases goods or services for personal use and not for manufacture or resale.

Statute of Limitations

Legislation that defines the ultimate deadline for initiating legal action, varying by the specifics of the claim or case involved.

UCC

All kinds of commercial dealings within the United States fall under the regulations of the expansive Uniform Commercial Code.

Breach of Contract

The failure to perform any term of a contract, agreement, or promise without a legitimate legal excuse.