Which of the following statements is true about utility?
A) Economists measure utility with a unit they refer to as an utte.
B) Utility is easy to compare across individuals.
C) All products produce the same utility.
D) Everyone receives the same level of satisfaction from the same good or service.
E) Some products produce more utility than others.

Question

Quizplus · Accepted Answer

Utility is subjective and varies across individuals and products. Therefore, some products produce more utility than others. Option A is not true as economists do not measure utility with the unit "utte." Option B is not true as utility is difficult to compare across individuals. Option C and D are not true as different products produce different levels of utility for different individuals.

Which of the Following Statements Is True About Utility