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exertion results in producing goods which benefit people less than the creator's cost in time, effort, and disutility. According to the utility theory, these goods have value exactly in proportion to the benefits they conferirrespective to how much labor was exerted in their creation.

Immunity to Refutation 4: Little or no exertionas in spontaneously arriving at ideas or noticing facts that can be turned to individuals' economic advantagecan produce tremendous benefits for large numbers of people, despite the little effort involved in the initial discoveries. Thus, the utility theory explains why such acts of little or no exertion can create economic value.

Immunity to Refutation 5: The utility theory accounts for the discrepancy of individual abilities and states that the economic value of their actions is exactly equal to the benefits they confer on themselves and otherswhich implies that some individuals can create far more value than others while expending similar amounts of time and effort.

Immunity to Refutation 6: The utility theory requires that an economically productive activity generate more in benefits than it costs. Thus, there exists an incentive to undertake activities that generate valuebecause the prudent and foresighted creators of valuable economic goods and services will be compensated beyond the cost of their labor.

Immunity to Refutation 7: The utility theory accounts for the same goods' different values when they are put to unequal usessince the benefits they confer on the users differ depending on the uses to which they are put.

Immunity to Refutation 8: The utility theory incorporates the law of diminishing marginal utility and explains that the greater benefits conferred by the first units of good in an individual's possession cause that individual to value these first units more than subsequent units.

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