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Question 4 10 pts Which of the following statements is correct? 0 As wealth increases, decreasing marginal utility makes potential losses less serious for highwealth
Question 4 10 pts Which of the following statements is correct? 0 As wealth increases, decreasing marginal utility makes potential losses less serious for highwealth individualsthis leads to a decrease in willingness to pay to avoid a given fair bet as wealth increases. 0 As wealth increases, decreasing marginal utility makes potential gains less attractive for highwealth individualsthis leads to an increase in willingness to pay to avoid a given fair bet as wealth increases. 0 As wealth increases, whether net willingness to pay decreases or increases, to avoid a given fair bet, depends on the precise shape of the utility function. All of the above
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