A Numerical Score That Represents the Satisfaction That a Consumer

question 57

Multiple Choice

A numerical score that represents the satisfaction that a consumer gets from a given market basket is called:

• A) utility.
• B) a utility function.
• C) marginal utility.
• D) the marginal rate of substitution.

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Definitions:

Causes

Factors or events that contribute to the occurrence of an effect or condition.

Opportunities

Circumstances or situations that make it possible to do something, often leading to personal growth or achievement.

Consequences

The outcomes or results that follow from actions or decisions, often considered in the context of behavior and choice.

Governmental Deviance

Refers to actions or policies by government entities or representatives that go against the moral, ethical, or legal standards expected of them.