PGA chapter 6 - Utility is not the same as usefulness...

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Utility is not the same as usefulness. Utility is the satisfying power or the benefit that a product will have on a consumer. The utility of a product may vary widely from person to person. For example, I really like protein powder because I need it for my fitness goals, as opposed to someone who never workout will have no utility for protein powder. Utility or satisfaction can also be measured in units called utils. For example, a consumer may have 80 utils of satisfaction from a steak, 50 utils of satisfaction from a smoothie, and 10 utils of satisfaction from a candy bar. These imaginary units of satisfaction are convenient for quantifying consumer behavior for explanatory purposes. Total utility and marginal utility are related to each other but they are different ideas. Total utility is the total amount of satisfaction or pleasure a person gains from consuming a specific amount of a product or service. Marginal utility is the extra satisfaction a consumer receives from the next incremental unit of that product.
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