Revealed preference is:
A) the idea that people's preferences can be determined by observing their choices and behavior.
B) the notion that people reveal the utility they get by reporting it on a numerical scale.
C) the method that psychologists, anthropologists, and economists use to measure utility.
D) All of these are correct.
Correct Answer:
Verified
Q1: Utility measurements are:
A)a relative ranking of how
Q3: Billy is deciding whether to stay home
Q4: Utility is useful when:
A)comparing the relative satisfaction
Q5: What is a bundle in terms of
Q6: Mariana has an hour of free time
Q7: Corey has a blue sweater and a
Q8: Utility is:
A)a way of describing a consumer's
Q9: A utility function is an equation for
Q10: What is a baseline assumption that economists
Q11: Utility is:
A)maximized by rational individuals.
B)revealed by observing
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