A(n)________ is a quantification of relative satisfaction.
A) number
B) util
C) enjoyment
D) marginality
E) model

Question

Quizplus · Accepted Answer

A util is a unit of measurement for the satisfaction or utility that a consumer derives from consuming a good or service. It is used in utility theory to quantify the amount of satisfaction or happiness a consumer obtains from the consumption of a particular quantity of a good or service. Therefore, a util is a quantification of relative satisfaction. None of the other options fit this definition.

A(n)________ Is a Quantification of Relative Satisfaction