To echo Jeff, if the home is going to have fire protection sprinklers, then the engineered design for those is going to dictate everything.

Otherwise, here's a little bit of the engineering method that would be used for the fire protection sprinklers, but which applies generally:

1) Start with the minimum pressure that the water company will guarantee at the meter.

2) End with the minimum pressure that a fixture needs to supply water properly. Glancing at IPC Table 604.3, looks like that would be 20psi, the controlling requirement for a tub, shower, or toilet.

3) The difference between (1) and (2) is your available pressure drop budget. It gets consumes by elevation difference (10 ft = 4.3 psi), and frictional losses in the meter, the water lateral, and the piping in the house

4) The frictional losses depend on the flow rate. So for sizing the meter and the water lateral you need a maximum flow rate for the house. There are various ways to come up with that, e.g. the Water Supply Fixture Units method, but they'll all probably give an answer in the range of 10 gpm to 20 gpm or close to it. Making an exact choice here is the part that is most unclear to me.

Then if the budget from (3) after subtracting the elevation difference is say 30 psi, you might decide that you want to allocate 15 psi of that for the meter and the lateral, and the remaining 15 psi for the distribution piping within the house. If your demand from (4) is say 15 gpm, then for each of the meter sizes you are considering, you can look up (ideally with the exact meter model number) the pressure loss through that meter for 15 gpm. Subtract that from your 15 psi budget and you get the allowable pressure drop on your water lateral.

Once you have the water lateral flow and allowable pressure drop, you can use a calculator like this one to tell you the proper pipe size:

E.g. if you have 15 gpm and want at most 10 psi pressure drop, with the 850' length and assuming plastic pipe, the calculator tells you that 1.42" is the minimum allowable inside diameter (which gives 9.9 psi pressure drop). Depending on the style of pipe you are using, the correspondence between nominal size and actual inside diameter will vary, but that likely means a 1-1/2" nominal size.

I'm not saying that this is the size to use, nor that 15 gpm is the correct flow to use, nor that 10 psi pressure drop is the correct pressure drop budget to allow for the water lateral. But I do think that 1-1/2" nominal size is likely in the ball park.

As to the choice of meter size, in addition to the upfront cost you need to consider any difference in monthly fee. Then based on your design flow from (4), you can determine the pressure drop across each size of meter. The basic question then is do I want to spend $X now and $Y / month to gain an additional so many psi of available pressure (reduced pressure drop across the meter)? If there is a monthly fee increase for the larger sizes, there's a good chance that you'd be best off economically going with a 3/4" meter and if necessary upsizing your water lateral to compensate.

Cheers, Wayne