Multiple Choice
Why do we say that the utility theory has ordinal utility?
A) It is designed to study relative satisfaction levels.
B) It cannot be explained without the expected utility theory.
C) It dictates that people should behave in the manner prescribed by it.
D) It can represent the absolute level of satisfaction.
E) It does not base its beliefs upon individuals' preferences.
Correct Answer:
Verified
Correct Answer:
Verified
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