A person who is unwilling to pay anything for insurance with a certain payoff of $4000 to replace a risky situation which would pay $2,000 some of the time and $4,000 other times is
A) irrational.
B) risk neutral.
C) risk averse.
D) a speculator.
E) none of the above.
Correct Answer:
Verified
Q13: Any person who places larger value on
Q14: A given person is risk loving through
Q15: Which of the following describes the purchasing
Q16: Hedging consists of:
A)reducing the risk involved in
Q17: A person who is willing to pay
Q19: In reality, markets involving risk and uncertainty
Q20: Speculators act to buy low and sell
Q21: The central problem leading to the development
Q22: Social insurance is:
A)consists mandatory programs with broad
Q23: What is meant by the term intellectual
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