Advertisements
Advertisements
Question
Which of the following is a characteristic of utility?
Options
Utility is Subjective
Utility is a relative concept
Utility is a Psychological phenomenon
All of these
MCQ
Advertisements
Solution
All of these
Explanation:
Utility is subjective, relative to the person and circumstances, and psychological in nature. Therefore, all the listed characteristics apply.
shaalaa.com
Is there an error in this question or solution?
