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Matt's Utility Function If Matt's Current Wealth Is $51,000, Then

Question 244

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Matt's Utility Function
Matt's Utility Function If Matt's current wealth is $51,000, then A) his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000. Matt is risk averse. B) his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000. Matt is not risk averse. C) his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000. Matt is risk averse. D) his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000. Matt is not risk averse.
If Matt's current wealth is $51,000, then


A) his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000. Matt is risk averse.
B) his gain in utility from gaining $1,000 is greater than his loss in utility from losing $1,000. Matt is not risk averse.
C) his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000. Matt is risk averse.
D) his gain in utility from gaining $1,000 is less than his loss in utility from losing $1,000. Matt is not risk averse.

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