Figure 27-1.The Figure Shows a Utility Function

question 23

Multiple Choice

Figure 27-1.The figure shows a utility function.
-Refer to Figure 27-1.What is measured along the vertical axis?

• A)risk aversion
• B)marginal utility
• C)utility
• D)the number of units of a good that can be purchased

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Definitions:

Creative Intelligence

The aspect of intelligence that involves the capacity to be flexible, innovative, and inventive in thinking.

IQ Tests

Standardized assessments designed to measure human intelligence and cognitive abilities against an average score for a given population.

Innate Ability

Natural talents or skills that a person is born with, not acquired through learning.

School Performance

The assessment of a student’s academic work in terms of grades, test scores, and teacher evaluations.