what is meant by the term"utility" and how does the idea relate to purposeful behavior?
microeconomics - economyst, Wednesday, January 21, 2009 at 9:01am
Utility is relative measure of happiness/pleasure/satisfaction.
If consuming good A gives a person more utility than good B, then that person would pay more for A than B.
microeconomics - osman, Tuesday, August 31, 2010 at 2:12am
utility and how does the idea relate purposeful behavior