A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of rational choice theory, it helps economists analyze how consumers make decisions to ...
Hosted on MSN
Total Utility in Economics: Definition and Example
Total utility is the aggregate satisfaction that a consumer receives through the consumption of a goods or services. Total utility is often compared to marginal utility, which is the satisfaction a ...
Results that may be inaccessible to you are currently showing.
Hide inaccessible results
Feedback