Multiple Choice
Which of the following statements about utility is true?
A) It is the same as usefulness.
B) Total utility diminishes as soon as additional units of a good are consumed.
C) Utility is objectively determined, meaning a good should provide the same satisfaction to whomever consumes it.
D) Utility is difficult to measure quantitatively.
Correct Answer:
Verified
Correct Answer:
Verified
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