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Mama L [17]
3 years ago
7

Which of the following is used by economists to measure the satisfaction a

Social Studies
1 answer:
hjlf3 years ago
3 0

Answer:

B. The concept of utility.

Explanation:

Utility in economics refers to the amount of satisfaction that a consumer derives from consuming units of a commodity at a particular point in time.

The concept of utility is based on the assumption that the consumer is rational in the sense that he or she aims at maximising utility with limited income.

Also , marginal utility diminishes as a consumer consumes additional units of a commodity.

The correct choice is B

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