neema has an hour of free time she can spend doing one of three activities. spending the hour reading would give her a utility of 4, playing video games would give her a utility of 2, and jogging would give her a utility of 6. based on this information, economists could predict that neema will:

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25-10-2022
Business

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neema has an hour of free time she can spend doing one of three activities. spending the hour reading would give her a utility of 4, playing video games would give her a utility of 2, and jogging would give her a utility of 6. based on this information, economists could predict that neema will:

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Can you guys help me please I don’t have a lot of time

akankshasharma92 akankshasharma92 · Answer 1 · 2022-11-06T16:29:42+01:00

According to the information, economists could predict that jogging would provide her utility.

Utility is a concept used in economics to represent worth or value. Its application has drastically changed over time. Philosophers of morality like Jeremy Bentham and John Stuart Mill first used the phrase to describe a measure of pleasure or happiness as part of their utilitarianism thesis. Within neoclassical economics, which dominates contemporary economic theory, the phrase has been modified and repurposed to refer to a utility function that expresses a single consumer's choice ordering over a set of options but is not comparable across individuals. This concept of utility is more precisely defined than the original definition but is less helpful for making ethical decisions because it is personal and relies on choice rather than on pleasure experienced.

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