Utility Measures the

question 543

Multiple Choice

Utility measures the

• A)income a consumer receives from consuming a bundle of goods.
• B)satisfaction a consumer receives from consuming a bundle of goods.
• C)satisfaction a consumer places on her budget constraint.
• D)All of the above are correct.

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Definitions:

State Approval

Formal consent given by a governmental entity authorizing an action, policy, or regulation to take effect.

Sole Proprietorship

A type of business structure where a single individual owns, manages, and is responsible for all aspects of the business, including debts.

Proprietor

The owner of a business or property.

Liabilities

Financial obligations or debts owed by a person or company to another entity, which must be settled over time.