A Utility Function Is a Representation of an Agent's Preferences

question 13

True/False

A utility function is a representation of an agent's preferences that tells the agent how good a bundle is by assigning a utility number.

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Definitions:

Gross Margin

The difference between sales revenue and the cost of goods sold, indicating the profit margin before accounting for overheads, salaries, and other expenses.

Cost

The amount of money or resources expended to obtain, produce, or maintain an object or service.

Sales

The revenue a company earns from selling goods or services.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting operating expenses, interest, and taxes.