An ordinal utility function

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    ranks market baskets from the most to the least preferred, with the most preferred being the farthest from the origin.
     is one quantifying how much one market basket is preferred to another.
     quantifies the satisfaction that market baskets provide, in order to determine the market baskets that will double consumer satisfaction.
     both 1 and 3.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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ranks market baskets from the most to the least preferred, with the most preferred being the farthest from the origin.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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