Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How does the idea of utility influence producers in the products they create for consumers? Question 17 options: They know they must create useful products

How does the idea of utility influence producers in the products they create for consumers? Question 17 options: They know they must create useful products because utility states that consumers will always pay for things which give them the most use. They know they must have fast service because utility states that consumers will prioritize their time above everything else. They know their price point must be the lowest because utility states that people will gravitate towards the cheapest option. They know they must create complementary products because utility states that consumers will be drawn to products with complements

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Mathematics In Canada

Authors: Ernest Jerome

7th edition

978-0071091411, 71091416, 978-0070009899

More Books

Students also viewed these Economics questions