Identify the utility that can represent the absolute level of satisfaction.
A)Circular utility
B)Ordinal utility
C)Marginal utility
D)Normative utility
E)Cardinal utility

Question

Quizplus · Accepted Answer

Cardinal utility represents the absolute level of satisfaction, as it assigns specific numerical values to levels of satisfaction or utility, allowing for a precise measurement of utility differences.

Identify the Utility That Can Represent the Absolute Level of Satisfaction