Which of the Following Statements About Utility Is True

question 6

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.

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Definitions:

Reality

The state of things as they actually exist, outside of perception or belief.

Useful

pertains to something that serves a practical purpose or fulfills a need, offering utility or benefit.

Reality

Refers to the state of things as they actually exist, as opposed to how they may appear or might be imagined.

Socially Conscious

Being aware of and responsive to societal and social issues and injustices.