Economists refer to utility as the
A)satisfaction that a producer receives from selling a good.
B)satisfaction that a consumer receives from consuming a good.
C)revenue that a seller receives from selling a good.
D)price that a consumer pays for a good.
E)difference between the value and the price of a good.

Question

Quizplus · Accepted Answer

Utility is the satisfaction that a consumer receives from consuming a good. It is a measure of the usefulness or satisfaction that a consumer derives from a product or service.

Economists Refer to Utility as the