Question

What is the economic definition of​ utility? Utility is

A. the enjoyment or satisfaction people receive from consuming goods and services.
B. the sum of consumer and producer surplus.
C. the decrease in additional satisfaction consumers receive as they consume more of a good or service during a given period of time.
D. the change in enjoyment or satisfaction a person receives from consuming one additional unit of a good or service.
E. the difference between the highest price a consumer is willing to pay and the price the consumer actually pays.

Answer 1

A. the enjoyment or satisfaction people receive from consuming goods and services.

Step-by-step explanation: