What role does utilityLOADING... play in the economic model of consumer behavior? When modeling consumer behavior, utility A. identifies the combination of goods and services that can be produced most efficiently. B. provides an objective measure of satisfactionsatisfaction from consuming a particular set of goods and services in units called "utils." C. reflects the enjoymentenjoyment a consumer receives from consuming a particular set of goods and services. D. identifies the consumer who receives the most satisfaction from consuming a particular set of goods and services. E. identifies the combination of goods and services that is leastleast expensive.

B. provides an objective measure of satisfaction from consuming a particular set of goods and services in units called "utils."

Explanation:

When modeling consumer behavior, utility provides an objective measure of satisfaction from consuming a particular set of goods and services in units called "utils."

In economics, the utility function measures the welfare or satisfaction of a consumer as a function of consumption of real goods such as food or clothing.

Utility function is widely used in the rational choice theory to analyze human behavior.

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total