A Utility Function

question 18

Multiple Choice

A utility function

• A) needs to measure the absolute level of happiness.
• B) needs to measure relative amounts of happiness for a single individual.
• C) helps compare the relative happiness of two separate consumers.
• D) is most useful if it can be influenced by others.
• E) measures relative happiness and income of consumers.

---

Definitions:

Services Rendered

The provision of work performed by one party for another in exchange for compensation.

Earning Revenue

Earning revenue refers to the total amount of money earned or income generated from a company's normal business activities before any costs or expenses are deducted.

Monetary Value

The value of an asset, service, or amount expressed in terms of money.

Performance of Services

The execution of tasks or provision of work that delivers value to clients or customers, typically in exchange for payment.