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Author Question: For a risk averse person, the marginal utility of wealth A) decreases as wealth increases. B) ... (Read 206 times)

tatyanajohnson

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on: Jun 29, 2018
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


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ju

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

A

Answer to Question 2

B


tatyanajohnson

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

mohan

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Reply 3 on: Yesterday
Wow, this really help

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