Identify the Utility That Can Represent the Absolute Level of Satisfaction

question 36

Multiple Choice

Identify the utility that can represent the absolute level of satisfaction.

• A)Circular utility
• B)Ordinal utility
• C)Marginal utility
• D)Normative utility
• E)Cardinal utility

---

Definitions:

Price Increase

A rise in the cost of goods or services.

Tax Revenue

The money collected by governments through the process of taxation.

Supply Curve

The supply curve is a graphical representation showing the relationship between the price of a good and the quantity of the good that producers are willing to supply.

Tax

An essential levy or different assessment exacted from taxpayers by a governmental institution, aimed at covering the costs of government activities and various public financial needs.