Utility of same commodity for two c persons is different. - Vidyadip

Question

Utility of same commodity for two c persons is different.

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Answer

Yes, I agree with this statement.

Utility is affected by personal likes, dislikes, preference, habits, etc.
Utility changes from person to person. It is subjective concept.
It is psychological feeling and subject to change from person to person.
E.g. Cigarette has utility to a smoker but it has no utility to non-smoker.
Marginal Utility diminishes.

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