Utility is
A)easily measured in units called utils.
B)subjective and difficult to measure.
C)the consumption of a quasi-public good like electricity or natural gas.
D)the production of a quasi-public good like electricity or natural gas.

Question

Quizplus · Accepted Answer

Utility is a subjective concept that varies from person to person and is difficult to measure. It refers to the level of satisfaction or happiness that a person derives from consuming a good or a service. Therefore, it cannot be easily quantified in units called utils.

Utility Is