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MICROECONOMICS CH : 3 CONSUMER'S EQUILIBRIUM UTILITY ANALYSIS — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 3 CONSUMER'S EQUILIBRIUM UTILITY ANALYSIS1 Mark
Question
What is meant by utility?
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Answer

Utility refers to the want-satisfying capacity of a commodity.

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