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In: Economics

Economists do not think it is possible to compare the relative utility that two people get...

Economists do not think it is possible to compare the relative utility that two people get from consuming an additional unit of a particular good.

True

False

Solutions

Expert Solution

ANSWER-

Economists do not think it is possible to compare the relative utility that two people get from consuming an additional unit of a particular good is TRUE.

As utility means the want satisfying power of the commodity which is subjective and it varies from person to person.

So, utility cannot be compared/measured.

Hence, the statement given in question is TRUE.

Rahul Sunny answered 2 years ago
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