Figure 14-1. The figure shows a utility function.
-Refer to Figure 14-1. What is measured along the vertical axis?
A)risk aversion
B)marginal utility
C)utility
D)the number of units of a good that can be purchased

Question

Figure 14-1. The figure shows a utility function. 
-Refer to Figure 14-1. What is measured along the vertical axis?
A)risk aversion 
B)marginal utility 
C)utility 
D)the number of units of a good that can be purchased

Quizplus · Accepted Answer

The vertical axis in utility graphs typically measures utility, which represents the satisfaction or benefit derived from consuming goods or services.