Utility refers to the
A)satisfaction that a consumer derives from a good or service.
B)rate of decline in a product demand curve.
C)relative scarcity of a product.
D)usefulness of a product.

Name: Utility refers to the A)satisfaction that a consumer derives from a good or service. B)rate of decline in a product demand curve. C)relative scarcity of a product. D)usefulness of a product.
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Question

Quizplus · Accepted Answer

Utility is defined as the satisfaction or pleasure that a consumer derives from consuming a good or service.

Utility Refers to the