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Consider Paige's preferences for Goods $L$, $M$, and $N$. She has the following preferences: $L \succ M \succ N$. Of course, this can be represented by a utility function (or utility functions, for that matter). Let's say utility function $u$ gives us the following values to Paige when she consumes $L$, $M$, or $N$:

$$u(L) = 10, u(M) = 5, u(N)= 1$$

While the utility function $v$ results in the following values for the goods:

$$v(L) = 100, v(M) = 55, v(N)= 1$$

Are these two functions $u$ and $v$ ordinally equivalent, cardinally equivalent, both, or neither?


These two functions are only ordinally equivalent.


These two functions are only cardinally equivalent.


These two functions are both ordinally and cardinally equivalent.


These two functions are neither ordinally or cardinally equivalent.

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