Which of the following statements is true about utility? a. Everyone receives the same level of satisfaction from the same good or service. b. Utility is easy to measure across individuals. c. Economists measure utility with a unit they refer to as an utte. d. Everyone receives different levels of satisfaction from the same good or service. e. All products produce the same level of utility.

Question

Edgar Knight

Business

27 September, 18:42

Which of the following statements is true about utility? a. Everyone receives the same level of satisfaction from the same good or service. b. Utility is easy to measure across individuals. c. Economists measure utility with a unit they refer to as an utte. d. Everyone receives different levels of satisfaction from the same good or service. e. All products produce the same level of utility.

+5

Answers (1)

Know the Answer?

Spunky · Answer 1

The correct answer to the following question is option D) everyone receives different level of satisfaction from from the same good or services.

Explanation:

Utility can be defined as a measurement of satisfaction levels that a consumer experiences from the consumption of goods and services. From the above given options only D is correct as every one experiences different level of satisfaction from same good or services. Economists measures utility with a unit they refer to as util. All products doesn't produce same level of satisfaction.