Question

Utility is the measure of surplus lost by producers when taxes are introduced to the market. surplus lost by consumers when taxes are introduced to the market. the satisfaction all consumers should receive from consuming a good or service. the relative satisfaction, enjoyment, or contentment a person receives from consuming a good or service.

Answer 1

the satisfaction all consumers should receive from consuming a good or service

Step-by-step explanation:

Utility is the satisfaction all consumers should receive from consuming a good or service.

This ultimately implies that, when consumers purchase a product or takes service from a service provider (business organization) they should get maximum value and satisfaction for the amount of money being spent.

For example, if a consumer buys an automobile, he should be satisfied with the use.