A numerical score that represents the satisfaction that a consumer gets from a given market basket is called:

A) utility.
B) a utility function.
C) marginal utility.
D) the marginal rate of substitution.

Utility Function

A mathematical representation of how different combinations of goods or services generate levels of happiness or satisfaction to the consumer.

Utility

A measure of the satisfaction or happiness that a person derives from consuming goods and services.

Marginal Rate

Refers to the rate at which one quantity changes with respect to a change in another, commonly used in economics to describe the marginal rate of substitution or marginal rate of transformation.