A Textile Artist Can Buy Fabric, Thread, and Batting, Create

question 143

Multiple Choice

A textile artist can buy fabric, thread, and batting, create an heirloom quilt, and then sell the finished work to customers in a kiosk decorated with some of the quilts produced to entice customers who shop at the local mall. By designing the quilts and kiosk with aesthetic value, the artist creates ________ utility.

• A) application
• B) possession
• C) time
• D) place
• E) form

---

Definitions:

Welfare-Maximizing

An economic or policy goal aimed at achieving the highest possible level of welfare for the population, taking into account factors such as distribution of wealth, health, and overall quality of life.

Competitively

Refers to a market condition where businesses or individuals vie against each other to gain economic advantage or win consumers' favor.

Profit-Maximizes

Refers to the strategy or objective of an entity or individual aimed at achieving the highest possible profit from its operations, typically by managing costs, pricing, and output.

Profit-Maximizes

Strategies or actions by firms aimed at increasing their profits to the highest possible level.