Solved

Identify the Truthfulness of the Following Statements

Question 49

Multiple Choice

Identify the truthfulness of the following statements. I. Ordinal utility gives us information about which basket the consumer prefers and quantitative information about the intensity of the preference.
II) Cardinal utility gives us information about which basket the consumer prefers but not about the intensity of those preferences.


A) Both I and II are true.
B) Both I and II are false.
C) I is true; II is false.
D) I is false; II is true.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions