What is type of utility

What is type of utility
  • 1 answers

Yogita Ingle 2 months, 1 week ago

The utility may be defined as the power of commodity or services which satisfy the human wants. It has nothing to do with usefulness or harmfulness but simply refers to wheather the goods & services satisfy human beings or not. In economics the goods whether they are useful or not posses utility which can satisfy human wants.
There are three types of utility:

  • Total utility
  • Marginal utility
  • Average utility

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