Question

Steve is currently maximizing utility by consuming three fried eggs and four strips of bacon. from this you can conclude that the:______

Answer 1

Steve is currently maximizing utility by consuming three fried eggs and four strips of bacon. from this you can conclude that the opportunity cost of not consuming the third fried egg equals the opportunity cost

of not consuming the fourth strip of bacon.

As a subject of economics, utility is used to model value or value. Its use has evolved significantly over time. The term was originally introduced as a measure of pleasure or happiness by moral philosophers such as Jeremy Bentham and John Stuart Mill as part of the theory of utilitarianism.

A measure of the satisfaction an individual receives from consuming a product. In other words, it is a measure of the utility that consumers receive from a good. Profit is a measure of how much someone enjoys a movie, favorite food, or other product.

Learn more about utility here:brainly.com/question/24922430
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