Utility
A) can be measured with the appropriate equipment.
B) is not real as we cannot measure it directly.
C) is very difficult to observe empirically.
D) is an objective measure of a good's value.
E) measures the common value of a good, independent of the individual.

Question

Quizplus · Accepted Answer

Utility is a subjective concept reflecting individual preferences and satisfaction, making it difficult to observe or measure empirically.