Question

What role does utilityLOADING... play in the economic model of consumer​ behavior? When modeling consumer​ behavior, utility A. provides an objective measure of satisfactionsatisfaction from consuming a particular set of goods and services in units called​ "utils." B. identifies the combination of goods and services that is mostmost expensive. C. identifies the combination of goods and services that can be produced most efficiently. D. identifies the consumer who receives the most satisfaction from consuming a particular set of goods and services. E. reflects the enjoymentenjoyment a consumer receives from consuming a particular set of goods and services.

Answer 1

Answer: Letter "e" is correct. As seen below;

Explanation:

  It´s role is to insight what, in a particular product or service, makes it so attractive to impulse and maintain its consume by some group. What shapes people decision toward product/service and makes their experience interesting to probably repeat usage/consume. That is the logics behind it: so companies may sell more and conquer preference.

  It is about consumer engagement and experience: not about the product or the consumers alone; it is about this revealing interaction/friction the product/service produces on its proprietor/user.

  Considering the intangibility of the matter, it is not appropriate to say that  utility role in economic modeling provides "objective measure", nor shows "combinations of goods" or even "identifies consumers" like aims. These are not the primary intention, but eventual subproducts. Captivating people´s reasons of enjoyment is the focus and starting point.