When looking at utility rather than money, what does the outcome of a fair bet look like?
A) The potential drop in utility is greater than the potential increase in utility.
B) The potential drop in utility is smaller than the potential increase in utility.
C) The potential drop in utility is equal to the potential increase in utility.
D) There is no expected change in utility.
Correct Answer:
Verified
Q21: Diminishing marginal utility makes people:
A)wealthy.
B)risk averse.
C)less prosperous.
D)risk
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