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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

Explain how utility is related to form utility.

Summary Introduction

To determine: The ways in which utility is related to form utility.

Introduction: The economic utility of a product or service is essential to comprehend since it will directly impact the demand, and in this manner cost, of that product or service.

Explanation

The ways in which utility is related to form utility are as follows:

There are four types of utilities namely, form utility, place utility, time utility and ownership utility...

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