The Last $2,000 of Rolanda's Wealth Adds Less to Her

question 64

Multiple Choice

The last $2,000 of Rolanda's wealth adds less to her utility than the previous $2,000.Based on this information,Rolanda has

• A)increasing marginal utility of wealth and is risk averse.
• B)increasing marginal utility of wealth and is not risk averse.
• C)decreasing marginal utility of wealth and is risk averse.
• D)decreasing marginal utility of wealth and is not risk averse.

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Definitions:

Individualist Culture

A culture that emphasizes personal independence and the value of individual self-reliance and personal achievements.

Unflappable

Describes someone who remains calm and composed, even in highly stressful or unexpected situations.

Situational Attribution

The process of attributing a person's actions or behavior to external or environmental factors rather than to internal characteristics.

Dispositional Attribution

The tendency to attribute someone's behavior to their internal characteristics or personality rather than to external factors.