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In a preference ordering exercise in which two baskets of goods-(Answered)

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Question

In a preference ordering exercise in which two baskets of goods are being considered, it is

assumed by indifference theory that the consumer is able to

a) measure the amount of pleasure expected from the preferred basket.

b) say how much more one basket is valued over the other.

c) calculate only the absolute value of the less desirable basket.

d) make no absolute measure of the value of any of the market baskets.

 

Paper#9208838 | Written in 27-Jul-2016

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