Figure 27-2

question 30

Multiple Choice

Figure 27-2.The figure shows a utility function for Britney.
-Refer to Figure 27-2.From the appearance of the utility function,we know that

• A)Britney is risk averse.
• B)Britney gains less satisfaction when her wealth increases by X dollars than she loses in satisfaction when her wealth decreases by X dollars.
• C)the property of diminishing marginal utility applies to Britney.
• D)All of the above are correct.

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Definitions:

Random Assignment

A method used in experiments to allocate participants to different groups using randomization, ensuring each participant has an equal chance of being placed in any group.

Random Sampling

A method of selecting a sample from a population where each member has an equal chance of being chosen.

Gender Similarities

The perspective that emphasizes the similarities rather than differences between genders in various psychological traits and behaviors.

Psychological Differences

Variations in mental processes or behaviors among individuals due to various factors such as genetics, environment, or experiences.