Question

utility is a subjective concept agree disagree​

Answer 1

Answer:

This means that it is relative and differs from person-to-person, place-to-place and time-to-time. It is not standard and every individual will obtain a different level of satisfaction (utility) from the consumption of the same good.

Explanation:

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Answer 2

Yes, The utility of a commodity is always subjective because it depends upon the consumer as much as on commodity. It is the psychological satisfaction as feeling of the consumer. Hence, it is internal not external.

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