From the Modern "Ordinalist" Perspective,when We Change the Scale Used

question 45

Multiple Choice

From the modern "ordinalist" perspective,when we change the scale used to measure utility:

• A) the consumers indifference curves remain unchanged.
• B) the consumers indifference curves will shift in the same direction as the change in the scale used to measure utility.
• C) the consumers indifference curves will shift in the opposite direction as the change in the scale used to measure utility.
• D) consumers will "move along" their indifference curves.

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Definitions:

Significant Amount

A quantity or level that is large enough to have a meaningful impact or effect, often determined in a statistical or contextual sense.

Life Events

Significant occurrences or changes in a person's life that can have a profound impact on their well-being and psychological state.

Physical Responses

Bodily reactions to external stimuli, including physiological changes like heart rate increase or sweating.

Psychological Responses

Emotional or mental reactions to stimuli or experiences, influenced by individual perception and cognitive processes.