A Utility Function Is an Equation for Calculating

question 85

Multiple Choice

A utility function is an equation for calculating:

• A)the maximum utility an individual can derive.
• B)the total utility an individual derives from consuming a particular good over a particular time period.
• C)the total utility a group of people derive from consuming a particular good.
• D)the total utility that an individual derives from consuming a particular combination of goods and services.

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Definitions:

Desired Employee Behavior

The specific actions and attitudes that an employer wants to encourage in its workforce to achieve organizational goals.

Secondary Reinforcer

A stimulus that has become rewarding or motivating through its association with a primary reinforcer.

Past Experience

Refers to the knowledge or skills a person has gained through previous work, education, or life situations.

Neutral Value

A concept or belief that is perceived to be impartial, lacking a predisposition towards a positive or negative judgment.