A util:
a. can measure satisfaction with factual accuracy.
b. is not a valid concept.
c. applies to a good but not to a service.
d. is purely a fictitious measure of the satisfaction a consumer derives from a product.
e. can be used in place of money in some countries.
d
You might also like to view...
Products X, Y, and Z have price elasticities of 3.0, 0.80, and 1.0 respectively. Total revenue decreases if the price of
A) product X falls. B) product Y falls. C) product Z falls. D) product X or product Z falls. E) product Y or product Z falls.
Foreign exchange reserves are critical to an effective floating exchange rate system
Indicate whether the statement is true or false
income expressed in current year dollars
What will be an ideal response?
Refer to the information provided in Figure 23.3 below to answer the question(s) that follow.
Figure 23.3Refer to Figure 23.3. The equation for the aggregate saving is
A. S = -200 + 0.6Y. B. S = -140 + 0.5Y. C. S = -60 + 0.3Y. D. S = -80 + 0.4Y.