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What unit measures the satisfaction gained from consuming a good?
A
Utils - notional units measuring consumer satisfaction or benefit.
B
Percentages - proportional units measuring the change in a good’s price.
C
Kilograms - physical units measuring the quantity of a good consumed.
D
Pounds - monetary units measuring the price paid for a good.
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7.1.1 definition and calculation of total utility and marginal utility Flashcards
20 flashcards on CIE Intl A Level Economics 7.1.1 definition and calculation of total utility and marginal utility: the key terms and definitions you need to recall.