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A Coding Scheme That Has a Code for All Possible

question 60

Short Answer

A coding scheme that has a code for all possible responses is said to be ____________________.


Definitions:

Marginal Utility

Additional contentment or usefulness achieved through the use of one more unit of a good or service.

Utility

In the field of economics, the complete pleasure derived from the consumption of a product or service.

Budget

A projection of revenues and expenses for a specified timeframe.

Total Utility

The total satisfaction or benefit received by consuming a particular amount of a good or service.

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