Explain the difference between cardinal and ordinal utility. Do you think that it is possible for researchers
Question:
Explain the difference between cardinal and ordinal utility. Do you think that it is possible for researchers to fi nd out which type of utility people actually have?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Cardinal and ordinal utility are economic concepts used to understand how consumers obtain satisfact...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
The Economics Of Health And Health Care
ISBN: 9781138208049
8th Edition
Authors: Sherman Folland, Allen C. Goodman, Miron Stano
Question Posted:
Students also viewed these Business questions
-
Do you think that it is possible for a vector u in a vector space to have two different negatives? That is, is it possible to have two different vectors (- u)1 and (-u)2, both of which satisfy Axiom...
-
It is July 1, 2023, Jim and Pam Halpert have just left your office after their first interview with you. In preparation for the interview, you had sent them a list of the various documents that they...
-
Can you create a meme for me using a communication concept?
-
Desgin a class diagram for Blackboard System. The diagram should also include: Generalization Relationships Association Relationships Aggregation/Composition Relationships Multiplicity please draw 1...
-
If the wavelength of sound is reduced by a factor of 2, what happens to its frequency? Its speed?
-
19. Christine is looking at buying a new vehicle compared to buying a used one. A brand-new car costs $27,872.93. She found the following information on the same model car Age of the vehicle (years)...
-
Extract \(p\)-xylene and o-xylene from \(n\)-hexane diluent using \(\beta, \beta^{\prime}\) thiodipropionitrile as solvent. Solvent and diluent can be assumed to be immiscible. Feed rate is \(1000.0...
-
The Pardues owned land used for a commercial horse breeding operation. Some neighbors raised turkeys on contract for Perdue Farms. After 10 years, a farm was cited for improper handling of turkey...
-
n a replacement analysis, the market value of the currently owned asset does not impact the cash flows of the replacement asset(s) in the opportunity cost approach. does not impact the cash flows of...
-
If a consumer always prefers more to less, can the indifference curves between the two goods be upward sloping? Explain. What if one of the goods is actually something unpleasant, like broccoli to a...
-
The following chart shows health expenditures for the United States between 1960 and 2014. Using a spreadsheet program: (a) Calculate health expenditures per person for each year. (b) Calculate...
-
(a) What are the three devices in central authentication using RADIUS servers? (b) What is the role of the authenticator? (c) What is the role of the central authentication server?
-
At December 31, 2020, Flounder Corporation owes $506,600 on a note payable due February 15, 2021. (a) If Flounder had restructured the note on December 15, 2020, such that Flounder has the...
-
Write a function, numbered_rows, which takes one optional parameter, levels. Default values for this parameter is set to 10. Your function should print a pattern shown in doctests. def numbered_rows...
-
All amounts are in New Zealand dollars and GST - exclusive unless otherwise stated. Please answer the question following NZ tax law. Serenity Furniture & D cor Limited ( SFD ) is a New Zealand tax...
-
Explain the impact of feminist literary criticism on the reexamination of classic texts. How has this critical approach redefined the representation of gender and power dynamics in literature?
-
Given the code below, which of the following statements will evaluate to True? class F: #Implementation Omitted class G(F): # Implementation Omitted class H(F): #Implementation Omitted if name RE f -...
-
Selected accounts from the chart of accounts of Mercer Company are shown below. 101 Cash ............401 Sales Revenue 112 Accounts Receivable .......412 Sales Returns and Allowances 120 Inventory...
-
Continuation of Exercise 4-83. (a) What is the probability that the first major crack occurs between 12 and 15 miles of the start of inspection? (b) What is the probability that there are no major...
-
Describe the differences between a process costing system and a job costing system.
-
What are the three stages of production at Coca-Cola, and what account is used to track production costs for each stage?
-
What are transferred-in costs?
-
Amina has a big decision to make. Should she:Continue on as she is running a sustainable business? go for
-
Pendora Inc. is a Canadian-Controlled Private Corporation that operates a food delivery service in Ontario. Its sole shareholder, Eli, owns 100% of Pandora Inc. For the company's taxation year ended...
-
Consider a large financial intermediation group that includes a significant multinational bank: Macquarie Group in 2023 (all values AUD Mill). (continuation from previous column) Interest Income...
Study smarter with the SolutionInn App