Subjective utility refers to
A) the expected value of an outcome.
B) what an outcome is personally worth to an individual.
C) a personal estimate of what the probability of an outcome is.
D) an individual's willingness to take risks.

Question

Quizplus · Accepted Answer

Subjective utility refers to what an outcome is personally worth to an individual. It is a measure of the individual's preference or satisfaction with a particular outcome. It is subjective because it varies from person to person depending on their values, needs, and preferences.

Subjective Utility Refers to