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29 September, 15:39

Economists measure utility

a. with a mythical unit called a "util"

b. with a special device neuroscientists developed to gauge satisfaction

c. using the marginal product

d. None of the available choices is correct in terms of the consumers budget constraint

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  1. 29 September, 16:02
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    d. None of the available choices is correct

    Explanation:

    None of these options accurately describe a way in which utility can be measured. Utility is a concept widely used in economics which tries to measure the satisfaction that a consumer receives from a particular good or service. It is impossible to accurately measure the exact utility of a particular good to a consumer. Nevertheless, an estimation is useful when making decisions about how to distribute our money within a budget.
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