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Q. 2- Critical Thinking Questions

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Found in: Page 449

### Economics Today

Book edition 19th
Author(s) Roger Miller
Pages 753 pages
ISBN 9780134478777

# What does Michel's experience imply about the idea of computing levels of utility derived from consumption and contrasting these utilities across individuals? Explain.

Utility computing allows clients to obtain computing resources on-demand and on a pay-per-use basis.

See the step by step solution

## Step1: Introduction.

Utility computing is a model in which computing resources are provided to customers on a demand basis. Instead of a flat rate, the service provider charges only for the services provided.

## Step2: Computing levels of utility derived from consumption.

A utility function is a representation that defines individual preferences for goods or services that are not explicitly monetary in value. In other words, it is a relative calculation of how much someone desires something.