I don't what the answer is but I will look for it
<u>Solution and Explanation:</u>
As the utility function is concave in shape, so person is risk averse. Thus, he will not accept the gamvle.
The difference between utility at point A&C = 70 minus 65 = $5, is less than a the difference between A&B = 65 minus 55 = $10
<u>MCQ:
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Answer is option a&d - risk averse people fear a lot for losing money, thus they overestimate the probability of loss
Since, shape of utility function is concave, hence the double derivative of utility with respect to wealth is negative, so utility falls at an decreasing rate , as wealth increases
Answer:
The correct answer is c) secondary
Explanation:
The term Secondary data refers to the information that has been collected by someone different than the user. For example, the information collected by government departments sometimes appears on the internet, if any user takes this information from the internet and uses it on any homework, project, business, etc... It is considered such as secondary data.
