Examlex
Which of the following is NOT a soft customer-defined standard?
Utility Function
A mathematical representation in economics of a consumer's preference ranking over a set of goods or outcomes, used to analyze choices and behavior.
Utility Function
A utility function is a mathematical representation of a consumer's preference, showing the level of satisfaction or utility derived from different combinations of goods and services.
Television Watching
The activity of viewing content on a television set, often analyzed for its impact on consumer behavior and preferences.
Same Tastes
A theoretical condition where all consumers have identical preferences, simplifying analysis of market behavior and product demand.
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