Utility, Managerial Economics

Utility

Utility is the amount of satisfaction derived from the consumption of a commodity or service at a particular time.  Utility is not inherent but a psychological satisfaction, i.e. depends on the individual's own subjective estimate of the amount of satisfaction to be obtained from the consumption of the commodity.

Posted Date: 11/27/2012 5:07:53 AM | Location : United States







Related Discussions:- Utility, Assignment Help, Ask Question on Utility, Get Answer, Expert's Help, Utility Discussions

Write discussion on Utility
Your posts are moderated
Related Questions
A medical insurance company offers its salespeople the following compensation scheme: each worker takes a fixed salary  and, in addition to that, a commission depending on the volu

Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is the difference between the earn

what is the relation between leverage and elasticity?

Environmental issues of Managerial economics Managerial economics also includes some aspects of macroeconomics. These relate to political and social environment in that anin

excise tax and its impact on manufacturing industry with respect to demand and supply curves

Disadvantages The effect on incentives High  progressive tax makes work and extra effort become less valuable. The effect on the willingness to accept risk

Using the CD data estimate a quadratic cost function. Test the hypothesis that there is diminishing marginal cost. Be sure to state what critical value you are using. Then, using t

DETERMINANTS OF MONEY SUPPLY The total supply of nominal money in the economy is determined by the joint behaviour of the central bank which controls the total issue of the hig

a) The following would most likely shift a production possibilities curve to the right? b) Money should not be considered an economic resource ? c)  Which of the following is

Open Market Operations Open market operations is another traditional or quantitative weapon at the disposal of central bank to control the volume of aggregate bank credit in t