Which one of the following is not an assumption of marginal utility theory?
A)People derive utility from their consumption.
B)More consumption yields more total utility.
C)Utility can be measured.
D)Marginal utility diminishes with more consumption.
E)Consumers maximize total utility.

Question

Quizplus · Accepted Answer

The assumption that utility can be measured is not universally accepted in economics. While marginal utility theory assumes that utility can be quantified and compared, some economists argue that utility is a subjective experience that cannot be meaningfully measured or compared across individuals.

Which One of the Following Is Not an Assumption of Marginal