Sanghoon has a utility function over audiobooks, A, and movie downloads, M, given by U = 2AM.
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Sanghoon has a utility function over audiobooks, A, and movie downloads, M, given by U = 2AM. Linh has a utility function given by U = AM. Explain why Sanghoon and Linh have the same ordering over any two bundles and therefore have the same ordinal preferences.
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Ordinal preferences refer to the ranking of options or choices in order of preference For example if ...View the full answer
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Related Book For 
Managerial Economics And Strategy
ISBN: 9780134899701
3rd Edition
Authors: Jeffrey M. Perloff, James A. Brander
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