Figure 27-1.The Figure Shows a Utility Function

question 12

Multiple Choice

Figure 27-1.The figure shows a utility function.
-Refer to Figure 27-1.For the person to whom this utility function applies,

• A)the more wealth she has,the less utility she gets from an additional dollar of wealth.
• B)the more wealth she has,the more utility she gets from an additional dollar of wealth.
• C)her level of satisfaction will be enhanced more by an increase in wealth from $600 to $800 than it would be by an increase in wealth from $400 to $600.
• D)her level of satisfaction will be enhanced equally by an increase in wealth from $600 to $800 or by an increase in wealth from $400 to $600.

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Definitions:

Consciously Chooses

The act of making a decision or selection with awareness and intention, often implying a deliberate thought process.

Behavioral Psychologist

A professional who studies and applies principles of behaviorism, focusing on observable behaviors and their modification.

Behaviorist

A psychologist who studies and interprets human behavior in terms of observable actions and reactions, often excluding mental states or emotions.

Observable Events

Phenomena that can be seen, measured, and verified directly through the senses, particularly through sight and hearing.