Correct Answer: Option B

Explanation

An ordinal utility function is a function representing the preferences of an agent on an ordinal scale. Ordinal utility theory claims that it is only meaningful to ask which option is better than the other, but it is meaningless to ask how much better it is or how good it is. This means that utility can only be ranked and not measured as claimed by other theories.

• The difference btw speed and velocity Plz? Answer this

  0 Answers   ·   25 minutes ago
• any mnemonic for radioactivity, simple ac circuit, galvanometer,wave,simple harmonic motion,? Answer this

  0 Answers   ·   Engineering   ·   26 minutes ago
• I got 26th on my examination slip how come u said it is on 24th? Answer this

  8 Answers   ·   Medical Science   ·   1 day ago