Answered: A good or service has utility if it O…

A good or service has utility if it O is useful. O is used in the production process. demonstrates scarcity. satisfies consumers. O is labor-saving.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter3: Benefits, Costs, And Decisions

Section: Chapter Questions

Problem 3.6IP: Dropping University Courses Students doing poorly in courses often consider dropping the courses....

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Don't use Ai. Answer in step by step with explanation. Vvvbbbbbbbvv

A good or service has utility if it
O is useful.
O is used in the production process.
demonstrates scarcity.
satisfies consumers.
O is labor-saving.

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