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Author Question: For a risk averse person, an increase in wealth brings ________ total utility of wealth and ________ ... (Read 132 times)

karateprodigy

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on: Jun 29, 2018
For a risk averse person, an increase in wealth brings ________ total utility of wealth and ________ marginal utility of wealth.
 
  A) higher; higher
  B) higher; lower
  C) lower; higher
  D) lower; lower

Question 2

Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is 5, what is the value of marginal product of the second worker?
 
  A) 100
  B) 20
  C) 30
  D) 125


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scottmt

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


karateprodigy

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Reply 2 on: Jun 29, 2018
Gracias!

kusterl

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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