g A person with a diminishing marginal utility of income: Group of answer choices will be risk neutral will be risk averse will be risk loving

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01-07-2021
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g A person with a diminishing marginal utility of income: Group of answer choices will be risk neutral will be risk averse will be risk loving

Sagot :

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Parrainidn Parrainidn · Answer 1 · 2021-07-04T21:26:53-04:00

Answer: Risk averse

Explanation:

A person with a diminishing marginal utility of income will derive less utility from income as income increases. A risk averse person is one who would rather avoid risk but still prefers a high income.

Such a person will have a diminishing marginal utility in income because income increases more when there is more risk. A risk averse person does not want that risk and so will go for a lower income which means that they don't want more income as it is riskier to them.

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