Total utility of a commodity is measured by which price of that commodity?

Question

Total utility of a commodity is measured by which price of that commodity?

Value in use
Value in exchange
Both of above
None of above

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

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AhmedNazir · Accepted Answer · 2022-09-01T13:21:41+06:00

AhmedNazir

Answer: Option 1

Total utility of a commodity is measured by value in use price of that commodity. The utility theory of value was the belief that price and value were solely based on how much “use” an individual received from a commodity.

4 views Answered 2022-09-01 13:21