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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Who determines how much utility an individual will receive from consuming a good?

To determine

The person who decides the utility an individual will receive from consuming a good.

Explanation

As per the concept of utility,

Utility is defined as the total amount of satisfaction that is received from consuming a good or a service.

It is very important to understand the concept of utility, as it will directly influence the demand and price of that good and service.

In simple words, utility is defined as a state of being Beneficial, useful, and profitable...

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