Utility is the amount of satisfactions(it could also be negative).<\/p>\n
Say you are very hungry and then your friend gives you a biscuit, because you are hungry we can say the number of utility is 10 (assuming that 10 utils is the maximum).<\/p>\n
Say that you already ate few biscuits and your mom gives you a piece of cake, you accept it just to be polite and the utility will be 1.<\/p>\n
After eating the cake your other friend come with peanuts chocolate(assuming you are allergic to nuts), it makes you sick and you give it -4 utils.<\/p>\n
Utility is not a realistic measure but it gives us a clear indication on the consumer decision on the products.<\/p>\n","protected":false},"excerpt":{"rendered":"
Utility is the amount of satisfactions(it could also be negative). Say you are very hungry and then your friend gives you a biscuit, because you are hungry we can say the number of utility is 10 (assuming that 10 utils Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-144110","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/144110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=144110"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/144110\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=144110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=144110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=144110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}