Question: 3 . An individual s utility function is ( ) where is her uncertain income and is increasing and concave. Which of the following statements
An individuals utility function is where is her uncertain income and is increasing and concave. Which of the following statements is incorrect? a she exhibits decreasing absolute risk aversion if b she exhibits decreasing absolute risk aversion since c she exhibits decreasing absolute risk aversion if d she exhibits decreasing absolute risk aversion only if
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