Utility theory is the study of the __________ or relative desirability of a particular outcome that reflects the decision maker's attitude toward a collection of factors, such as profit, loss, and risk.
A)total worth
B)total cost
C)feasibility
D)financial wellness

Question

Quizplus · Accepted Answer

Utility theory is concerned with measuring the total worth or usefulness of a particular outcome, which reflects the decision maker's preferences toward different possible outcomes. It takes into account various factors, such as profit, loss, and risk, and aims to determine the best choice based on the decision maker's subjective evaluations. Therefore, option A, total worth, is the best choice to complete the given statement.

Utility Theory Is the Study of the __________ or Relative