When an Economist Talks About Utility, She Is Talking About

question 19

Multiple Choice

When an economist talks about utility, she is talking about

• A)a company that provides electricity, water, gas, etc.
• B)the satisfaction, in terms of price, that a producer receives from selling his product.
• C)the satisfaction that results from the consumption of a good.
• D)the amount of one good that a person is willing to give up in order to get a unit of another good.
• E)the satisfaction that results from the consumption of a good minus the price that must be paid to get the good.

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Definitions:

Narcissism

A personality trait involving excessive self-interest and lack of empathy for others.

Self-Monitoring

The process of paying close attention to one's behavior and using these observations to shape the way one behaves.

Self-Esteem

A reflection of an individual's overall subjective emotional evaluation of their own worth.

Positive Outcomes

Refers to the beneficial results or effects of an action, event, or situation.