If Utility Is Measured in a Way That Not Only

question 5

Multiple Choice

If utility is measured in a way that not only the utility numbers assigned to bundles are meaningful, but also their differences, then we say that we are using

• A) cardinal utility
• B) ordinal utility
• C) expected utility

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Definitions:

Marketing Communication

The process and methods used by organizations to convey promotional messages about their products or services to their target audience.

Commercial

A promotional advertisement, typically broadcast on television or radio, intended to inform or persuade an audience about a product or service.

Value Proposition

The unique value that a product or service provides to its customers and how it is better than and different from those of competitors.

Product

Anything that is of value to a consumer and can be offered through a voluntary marketing exchange.