Say and Cantillon Launched the Notion of Subjective Utility

question 7

Multiple Choice

Say and Cantillon launched the notion of subjective utility. This states that:

• A) the utility the customer perceives affects the value and thus the price of a good
• B) the subjective should not be taken into consideration when setting the price
• C) price is a subjective experience
• D) production costs define the price of a good

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Definitions:

Dissolved

The process of formally ending the existence of a business, partnership, or corporation.

Interest Rate

The percentage of an amount of money charged for its use per a certain period.

Perpetuity

A type of annuity that generates an infinite series of payments into the future, without an end date.

Present Value

The value now of a future monetary total or cash flows, based on an established return rate.