This topic contains a solution. Click here to go to the answer

Author Question: For a risk averse person, the marginal utility of wealth A) decreases as wealth increases. B) ... (Read 153 times)

tatyanajohnson

  • Hero Member
  • *****
  • Posts: 569
For a risk averse person, the marginal utility of wealth
 
  A) decreases as wealth increases.
  B) increases as wealth increases.
  C) decreases as wealth decreases.
  D) remains constant as wealth increases.

Question 2

As Mary's income increases by 20 percent, her demand for tickets to National Hockey League games increases by 10 percent. Mary's demand for tickets is income ________; for Mary, hockey tickets are ________ good.
 
  A) elastic; a normal
  B) inelastic; a normal
  C) elastic; an inferior
  D) inelastic; an inferior



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ju

  • Sr. Member
  • ****
  • Posts: 325
Answer to Question 1

A

Answer to Question 2

B




tatyanajohnson

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


meganmoser117

  • Member
  • Posts: 303
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

For a complete list of videos, visit our video library