Utility is:
A)difficult to measure because it is very subjective.
B)as easy to measure as price signals in the economy.
C)as difficult to measure as an individual's income level.
D)None of these statements is true.

Question

Quizplus · Accepted Answer

Utility is a concept related to satisfaction or happiness that individuals derive from consuming goods or services. It is difficult to measure as it varies from person to person and is based on subjective preferences and experiences. It cannot be measured using objective indicators like price signals or income levels.

Utility Is