If the marginal utility of Jordyn's 100th dollar of income is 40 utils and the marginal utility of Joshua's 10th dollar is 135 utils, we know
A) money means more to Jordyn than to Joshua
B) money means more to Joshua than to Jordyn
C) Jordyn has more income than Joshua
D) Joshua has more income than Jordyn
E) nothing, since we can't make interpersonal utility comparisons

Question

Quizplus · Accepted Answer

The concept of utility is subjective and varies from person to person. The statement about marginal utility does not allow for direct comparisons between individuals, as utility is not a directly observable or measurable quantity that can be compared across different people.

If the Marginal Utility of Jordyn's 100th Dollar of Income