Question

Name the measures of utility.​

Answer 1

Answer:

It's difficult to measure a qualitative concept such as utility, but economists try to quantify it in two different ways: cardinal utility and ordinal utility. ... In economics, utility simply means the satisfaction that a consumer experiences from a product or service.

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Answer 2

The measures of utility are:

1. Total Utility

2. Marginal Utility

3. Average Utility

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