After browsing his cabinets to see what meals he can make,Ken is deciding whether to make nachos or spaghetti for dinner.If Ken makes spaghetti,we can conclude:
A) Ken doesn't like nachos.
B) Ken prefers nachos over spaghetti.
C) Ken will get more utility from having spaghetti for dinner than nachos.
D) None of these is true.
Correct Answer:
Verified
Q6: Mary makes a New Year's resolution to
Q7: A utility function is:
A)a formula for calculating
Q7: Revealed preference is:
A) the idea that people's
Q8: Utility is:
A)maximized by rational individuals.
B)revealed by observing
Q10: Utility is:
A)difficult to measure because it is
Q11: When economists observe someone make a choice,they
Q12: Individuals will make choices to maximize their:
A)preferences.
B)utility.
C)income.
D)values.
Q13: Which of the following statements is true
Q14: Utility measurements are:
A)a relative ranking of the
Q19: Billy is deciding whether to watch TV
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