Which of the following is true about utility-income model? The individual prefers an uncertain outcome to a certain one with the same expected income The individual prefers the utility she would get from her expected income to th- expected utility she will get from the uncertain income The individual is risk tolerant All of the above

Which of the following is true about utility-income model? The individual prefers an uncertain outcome to a certain one with the same expected income The individual prefers the utility she would get from her expected income to th- expected utility she will get from the uncertain income The individual is risk tolerant All of the above

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter7: Uncertainty

Section: Chapter Questions

Problem 7.4P

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