Home › CBSE Class 11 (Arts) › Economics › Microeconomics: Consumer's Equilibrium and Demand › Satisfaction derived from consumption is quantif…
Satisfaction derived from consumption is quantified in units called
Apascals
Butils
Cmills
Dcredits
Answer & Solution
Correct answer: B. utils
Economists measure utility in hypothetical units called utils.
Related questions
A budget line, drawn for two goods, isOrdinal utility tells us only theUtility that can be measured objectively in numbers isConsumer theory builds demand curves using indifference curves andLocal non-satiation says more of either goodUnder reflexive preferences, two identical bundles leave the consumerComplete preferences mean the consumer hasIf A is preferred to B and B to C, a consistent consumer prefers A to C. This is