A util is
A) a hypothetical unit of satisfaction.
B) equal to $1.
C) a measure of income.
D) one unit of electricity.
Correct Answer:
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Q53: In the theory of utilitarianism, economists assume
Q54: To an economist, utility is
A) identical to
Q55: The two theories of consumer choice used
Q56: Jeremy Bentham believed that governments should
A) promote
Q57: Marginal utility is NOT
A) measured in utils.
B)
Q59: Joni receives 8 utils from drinking her
Q60: The main difference between marginal utility and
Q61: Why does the marginal utility associated with
Q62: For purposes of utility analysis, marginal means
A)
Q63: Marginal utility
A) is always positive.
B) is the
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