Modern economics uses which type of consumer theory? a. cardinal utility b. ordinal utility c. total utility

Question:

Modern economics uses which type of consumer theory?

a. cardinal utility

b. ordinal utility

c. total utility

d. public utility

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Agricultural Economics

ISBN: 9780415540704

1st Edition

Authors: Andrew Barkley, Paul W. Barkley

See More Books

Question Posted: Apr 17, 2024 08:01 AM

See More Questions

In our development of consumer theory, we made a big point about the fact that neoclassical economics does not put much stock in the idea of cardinally measuring utility (in terms of units of...
I am a capitalist, and after a 30-year career in capitalism spanning three dozen companies, generating tens of billions of dollars in market value, I'm not just in the top one percent, I'm in the top...
1. In the classical model, it is thought that the long-run: A. and short-run aggregate supply curves are both upward sloping. B. aggregate supply curve is vertical and the short-run aggregate supply...
. Current price of stock is $20 and expected price after one year is 22.5. If investor required return is 18%. What percentage of dividend should company pay?
Nicole's employer, Poe Corporation, provides her with an automobile allowance of $20,000 every other year. Her marginal tax rate is 30 percent. Poe Corporation has a marginal tax rate of 35 percent....
KeyCite this case: United States v. Martinez-Jimenez, 864 F.2d 664 (9th Cir. 1989), what are the citations of the 1995 and 1993 cases listed under Positive History that have a yellow flag? For...
Conduct the following analyses for the Internet usage data given in Applied Problem 11-18 in Chapter 11. a. Find the simple correlations between the following sets of variables: Internet usage and...
At the completion of the Darby Department Store audit, the president asks about the meaning of the phrase in conformity with generally accepted accounting principles, which appears in your audit...
Suppose you want to sell naked options on a bitcoin miner like MARA or RIOT. Could you hedge by also buying some bitcoin at a broker, or COINBASE? You would have to be very very explicit, showing a...
Marginal utility refers to: a. the extra level of electricity from a public utility b. the level of satisfaction from consuming a good c. utility derived from consuming a good d. a change in utility...
Placing a numerical value on the consumption of a piece of apple pie is an example of: a. normative economics b. cardinal utility c. ordinal utility d. positive economics
What does it mean to vest in a defined benefit or defined contribution plan?
A car initially traveling at 31.2 m/s undergoes a constant negative acceleration of magnitude 1.40 m/s after its brakes are applied. (a) How many revolutions does each tire make before the car comes...
(a) Using your own words explain in detail the different experiments that were crucial for the discovery of electrons . (b) Using your own word explain the different experiments that were crucial for...
A 1500-W electric heater is connected to the same 110-V line as a computer that draws a peak power of 300 W. How much current is drawn on the line when the computer is operat- ing at its peak power...
(a) Show that (2,1,6), (4,7,9) and (11,7,-12) are the vertices of a right triangle. (b) Find the area of the triangle.
A linear elastic material with a length of 36.0 mm and a square cross-section (side length = 2.3 mm) fails during tensile testing under a load of 76.3 N after being stretched to 40.7 mm. a. Calculate...
Gate AB is 7 ft into the paper and weighs 3000 lbf when submerged. It is hinged at B and rests against a smooth wall at A. Find the water level h which will just cause the gate to open. 2 4 ft Water...
Feller Company purchased a site for a limestone quarry for $100,000 on January 2, 2019. It estimate that the quarry will yield 400,000 tons of limestone. It estimates that its retirement obligation...
Choose one of the following behavioral interview questions and respond to it as you would during an interview: 1. Tell me about a time when you had to work with others. What was the situation and how...
According to what you have learnt in this semester and what you have answered so far regarding the scenario answer the following questions regarding Product (Goods & Services), Customer Segmentation...
What are the underlying genetic and environmental factors that contribute to the manifestation and progression of complex diseases such as cancer, neurodegenerative disorders, and autoimmune...

Modern economics uses which type of consumer theory? a. cardinal utility b. ordinal utility c. total utility

Question:

Step by Step Answer:

Modern economics uses ordinal utility in consumer theory This approach to consumer theory focu...View the full answer

Principles Of Agricultural Economics

Students also viewed these Business questions