Which of the following statements about utility and preferences is false?
A)If Sidra prefers tea to coffee and coffee to hot chocolate, then she must prefer tea to hot chocolate.
B)Preferences can be ranked.
C)If two individuals, Ingrid and Inez, each consume the same bundle of goods, then both Inez and Ingrid must receive the same utility from the bundle.
D)Utility cannot be compared across consumers.

Question

Quizplus · Accepted Answer

Utility is subjective and can vary between individuals, so even if Ingrid and Inez consume the same bundle of goods, they may derive different levels of utility from it.

Which of the Following Statements About Utility and Preferences Is