Which of the Following Statements Concerning Utility Is Correct

question 93

Multiple Choice

Which of the following statements concerning utility is correct?

• A)It is possible to precisely measure the utility an individual receives from consuming a particular good or service
• B)It is always possible to determine whether Dalene or Juloy gets more utility from consuming two units of the same good
• C)The utility of goods can be measured while the same is not true for services
• D)Utility is a subjective measure of satisfaction an individual receives from consuming a good or service
• E)It is only useful if there is no scarcity

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Definitions:

Cognitive Development

The process of growth and change in intellectual capabilities that occurs from infancy, through childhood, and onto adulthood.

Erik Erikson

A psychoanalyst known for his theory on the psychosocial development of human beings, encompassing eight stages from infancy to adulthood.

Sigmund Freud

An Austrian neurologist best known for founding psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Lawrence Kohlberg

A psychologist best known for his theory of stages of moral development.