What does the economic term “Utility” mean? Utility means “satisfaction.”
Chapter 13 PROFIT MAXIMIZATION AND SUPPLY Copyright ©2002 by South-Western, a division of Thomson Learning. All rights reserved. MICROECONOMIC THEORY BASIC.
GOAL OF ECONOMICS FOR THE INDIVIDUAL MAXIMIZE HAPPINESS: “UTILITY” SUBJECTIVE AS TO WHAT COMPOSES A PERSON’S “UTILITY FUNCTION” * RESOURCES * LEISURE *
Micro Chapter 7 Consumer Choice and Elasticity.
The Trinidad and Tobago Economics Association. The Department of Economics, UWI, St. Augustine. April 28 th, 2012 1 Trinidad and Tobago Economics Association.
Resource Market