Question

meaning of utility in economic ​

Answer 1

Answer:

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. The economic utility of a good or service is important to understand, because it directly influences the demand, and therefore price, of that good or service.

Answer 2

Answer:

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. ... The economic utility of a good or service is important to understand, because it directly influences the demand, and therefore price, of that good or service.

Explanation:

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