From the modern "ordinalist" perspective,the scale used to measure utility:
A) provides an absolute measure of human well-being.
B) is completely arbitrary.
C) summarizes information about the intensity of preferences.
D) is the same for each consumer.

Question

Quizplus · Accepted Answer

The modern "ordinalist" perspective views utility scales as arbitrary, meaning they are used to rank preferences rather than measure absolute levels of utility or well-being. This approach contrasts with the "cardinalist" perspective, which treats utility as a measurable quantity.

From the Modern "Ordinalist" Perspective,the Scale Used to Measure Utility