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cyangnat561Lv1
28 Nov 2020
The utility of a good or service:
A) is synonymous with usefulness.
B) is the satisfaction or pleasure one gets from consuming it.
C) is easy to quantify.
D) rarely varies from person to person.
The utility of a good or service:
A) is synonymous with usefulness.
B) is the satisfaction or pleasure one gets from consuming it.
C) is easy to quantify.
D) rarely varies from person to person.
Yusra AneesLv10
14 Jan 2021
Related textbook solutions
Related questions
Which of the following statements is correct?
i. utility refers to the satisfaction or fuzzy glow derived from consumption of goods
ii. utility and usefulness are synonymous (i.e., they have equivalent meanings)
iii. a good may yield utility when acquired but not be functionally useful
iv. the marginal utility from consuming an additional unit of a good will be positive, whereas the marginal utility of consuming an additional unit of a bad will be negative
| i and ii |
| i and iii |
| i and iv |
| i, ii, and iii |
| i, ii, and iv |
| i, iii, and iv |
| i, ii, iii, and iv |
