When economists refer to _____, they are referring to a hypothetical measure of consumer satisfaction.
A) surplus
B) indifference
C) marginal cost
D) utility

Name: When economists refer to _____, they are referring to a hypothetical measure of consumer satisfaction. A) surplus B) indifference C) marginal cost D) utility
Brand: Quizplus
Rating: 4.8 (44 reviews)

Question

Quizplus · Accepted Answer

Utility is the term economists use to describe a measure of consumer satisfaction or happiness derived from consuming goods and services.

When Economists Refer to _____, They Are Referring to a Hypothetical