Question

Utility is:

Multiple Choice
a. maximized by rational individuals.
b. revealed by observing choices an individual makes.
c. the satisfaction individuals get from different bundles of goods.
d. All of these are correct

Answer 1

Utility is c) the satisfaction individuals get from different bundles of goods.

Step-by-step explanation:

Utility is the satisfaction individuals get from different bundles of goods. It is the measure of how much usefulness or value an individual derives from consuming a particular good or service.

Utility is subjective and varies from person to person, as it depends on personal preferences and tastes.