Multiple Choice
Information about preferences is ordinal if:
A) the information tells us something about the intensity of the consumer's preferences.
B) the information allows us to make comparisons between the preferences of different consumers.
C) the information allows us to determine only whether one alternative is better or worse than another.
D) the information allows us to make comparisons between the preference of the same consumer at different points in time.
Correct Answer:

Verified
Correct Answer:
Verified
Q50: Using a carefully-labeled graph,explain the concept of
Q51: By itself,the marginal utility of a particular
Q52: Frieda enjoys cooking and baking.Her utility function
Q53: Consider two activities: Attending economics class and
Q54: Rates of substitution are determined by:<br>A) the
Q56: According to the more-is-better principle:<br>A) a consumer
Q57: When there is a low degree of
Q58: Suppose that Frank is considering giving Mike
Q59: If Anne receives more satisfaction as she
Q60: Refer to carefully-labeled diagrams to explain each