Utility measures
A)the income a consumer receives from consuming a bundle of goods.
B)the satisfaction a consumer receives from consuming a bundle of goods.
C)the satisfaction a consumer places on their budget constraint.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

Utility measures refer to the level of satisfaction a consumer receives from consuming a bundle of goods. It does not necessarily have to be correlated with income or budget constraint. Option A and C are incorrect because they focus on income and budget constraint, respectively.

Utility Measures