Question

what is price utility

Answer 1

Utility is an economic term introduced by Daniel Bernoulli referring to the total satisfaction received from consuming a good or service. The economic utilityof a good or service is important to understand because it will directly influence the demand, and thereforeprice, of that good or service.

Answer 2

Utility is an economic term introduced by Daniel Bernoulli referring to the total satisfaction received from consuming a good or service.