Question

How is utility measured in terms of monetary units?​

Answer 1

Answer:

Utility is measured in units called utils, but calculating the benefit or satisfaction that consumers receive from is abstract and difficult to pinpoint. As a result, economists measure utility in terms of revealed preferences by observing consumers' choices

Hope it helps you

Answer 2

Utility is measured in units called utils, but calculating the benefit or satisfaction that consumers receive from is abstract and difficult to pinpoint. As a result, economists measure utility in terms of revealed preferences by observing consumers' choices.