Question

utility in economics means
​

Answer 1

Answer:

• Utilityin economics

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. Economic theories based on rational choice usually assume that consumers will strive to maximize their utility. ... In practice, a consumer's utility is impossible to measure and quantify

21$<svg width="22" height="12" viewBox="0 0 100 100">\ \textless \ br /\ \textgreater \ \ \textless \ br /\ \textgreater \ <path fill="red"</p><p>d="M92.71,7.27L92.71,7.27c-9.71-9.69-25.46-9.69-35.18,0L50,14.79l-7.54-7.52C32.75-2.42,17-2.42,7.29,7.27v0 c-9.71,9.69-9.71,25.41,0,35.1L50,85l42.71-42.63C102.43,32.68,102.43,16.96,92.71,7.27z"></path>\ \textless \ br /\ \textgreater \ \ \textless \ br /\ \textgreater \ <animateTransform \ \textless \ br /\ \textgreater \ attributeName="transform" \ \textless \ br /\ \textgreater \ type="scale" \ \textless \ br /\ \textgreater \ values="1; 1.5; 1.25; 1.5; 1.5; 1;" \ \textless \ br /\ \textgreater \ dur="01s" \ \textless \ br /\ \textgreater \ repeatCount="40000"> \ \textless \ br /\ \textgreater \ </animateTransform>\ \textless \ br /\ \textgreater \ \ \textless \ br /\ \textgreater \ </svg>$$<svg width="8" height="18" viewBox="0 0 100 100">\ \textless \ br /\ \textgreater \ \ \textless \ br /\ \textgreater \ <path fill="Black"</p><p>d="M92.71,7.27L92.71,7.27c-9.71-9.69-25.46-9.69-35.18,0L50,14.79l-7.54-7.52C32.75-2.42,17-2.42,7.29,7.27v0 c-9.71,9.69-9.71,25.41,0,35.1L50,85l42.71-42.63C102.43,32.68,102.43,16.96,92.71,7.27z"></path>\ \textless \ br /\ \textgreater \ \ \textless \ br /\ \textgreater \ <animateTransform \ \textless \ br /\ \textgreater \ attributeName="transform" \ \textless \ br /\ \textgreater \ type="scale" \ \textless \ br /\ \textgreater \ values="1; 1.5; 1.25; 1.5; 1.5; 1;" \ \textless \ br /\ \textgreater \ dur="0.5s" \ \textless \ br /\ \textgreater \ repeatCount="40000"> \ \textless \ br /\ \textgreater \ </animateTransform>\ \textless \ br /\ \textgreater \ \ \textless \ br /\ \textgreater \ </svg>$ꜰᴏʟʟᴏᴡ » ɪɴʙᴏx

Answer 2

Explanation:

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. Economic theories based on rational choice usually assume that consumers will strive to maximize their utility. 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. In practice, a consumer's utility is impossible to measure and quantify. However, some economists believe that they can indirectly estimate what is the utility for an economic good or service by employing various models.