A. utility cannot be measured objectively.
B. utility can be measured objectively because people can use prices of different goods to measure utility.
C. all of the important conclusions of the economic model of consumer behavior depend on utility being measured objectively.
D. the util truly is an objective, rather than a subjective, measure of utility.
Economists currently believe that utility, historically represented by 'util', is subjective and cannot be measured objectively. It varies based on individual preferences and circumstances. Prices can suggest perceived utility, but they cannot accurately measure it.
The term "util" was indeed used in historical context to represent a unit of utility. However, today, most economists agree with option A, that utility cannot be measured objectively. Utility is considered subjective as it varies from individual to individual based on their personal preferences, needs, and circumstances. It's challenging to quantitatively asses and compare utility across different individuals or even for the same individual across different circumstances. Prices of goods can be suggestive of their perceived utility but cannot accurately measure it as utility depends on personal subjective valuation.
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c. A decrease in the general price level.
b. A reduction in the supply of money.
d. A decrease in a nation’s standard of living. Please select the best answer from the choices provided A B C D
Answer:
Explanation:
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Answer:
Pit A is located on a valley floor while Pit B is along a hillside.
The administrative, and professional employees are exempt from the rules in Fair Labor Standard Acts of 1938.
It should be noted that the Fair Labor Act simply means an act that was passed to ensure fair practices in organizations.
In this case, the administrative, and professional employees are exempt from the rules in Fair Labor Standard Acts of 1938.
Learn more about Fair Labor Act on:
B. Getting caught in the transition period without a clear strategic advantage
C. Failure to recognize the declining importance of product differentiation and the increasing importance of service
D. Giving up market share too easily in favor of short-run profit
Answer:
B. Getting caught in the transition period without a clear strategic advantage.