Explain the assumptions made about consumers and households used to build utility theory.
-Why is it not possible to precisely measure utility or pleasure?
Correct Answer:
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Q9: Whats defention of terms:
-total utility
Q10: Whats defention of terms:
-utility
Q11: Explain the assumptions made about consumers and
Q12: Explain the assumptions made about consumers and
Q13: Explain the assumptions made about consumers and
Q15: Explain the assumptions made about consumers and
Q16: Explain how consumers maximize their utility (joy)
Q17: Explain how consumers maximize their utility (joy)
Q18: Discuss the criticisms of the assumptions of
Q19: Discuss the criticisms of the assumptions of
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