Utils are used by economists to measure the satisfaction a person obtains from consuming a good.

Name: Utils are used by economists to measure the satisfaction a person obtains from consuming a good.
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Question

Quizplus · Accepted Answer

This statement is true. Utils are a hypothetical unit of measurement used by economists to represent the subjective satisfaction or happiness that a consumer derives from consuming a good or service.

Utils Are Used by Economists to Measure the Satisfaction a Person