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Which one of the following provides an economic explanation of risk aversion? A The marginal utility of an extra unit of income increases as more

Which one of the following provides an economic explanation of risk aversion?

A The marginal utility of an extra unit of income increases as more income is earned.

B There will always be some individuals willing to take risks while others will be unwilling to assume risks regardless of the payoff.

C The marginal utility of an extra unit of income decreases as more income is received.

D The marginal utility of an extra unit of income is constant.

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