Utility is the:
A)difference between a firm's total revenue and its total economic cost.
B)good not adequately provided by a free market and usually provided by the government.
C)satisfaction consumers derive from their consumption of goods and services.
D)lowest price that buyers are willing to pay for a given quantity of a good.

Question

Quizplus · Accepted Answer

Utility refers to the satisfaction or usefulness an individual derives from consuming a good or service. It is a subjective measure and varies from person to person.

Utility Is The