What is utility and how do we use the concept of utility to describe a consumers preferences?

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What is utility and how do we use the concept of utility to describe a consumer’s preferences?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 07:07 AM

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What is utility and how do we use the concept of utility to describe a consumers preferences?

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Utility is the benefit a person gets from the consumption of goo...View the full answer

Microeconomics

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