The marginal utility of an extra dollar is:
A) the change in usefulness that comes from extra income.
B) determined by the source of the dollar.
C) the change in economic status that comes from an overall level of wealth.
D) the extra satisfaction you would get from having one more dollar.
Correct Answer:
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Q11: If an investment has a 40% probability
Q12: In a fair bet, the:
A)outcome is known
Q13: A person who dislikes uncertainty is known
Q14: A person's utility level is his or
Q15: Which of the following statements about the
Q17: The slope of a utility function is:
A)positive
Q18: The utility function for wealth indicates that:
A)there
Q19: What principle explains why the utility function
Q20: Your marginal utility would be highest at
Q21: Diminishing marginal utility makes people:
A)wealthy.
B)risk averse.
C)less prosperous.
D)risk
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