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18 October, 06:46

The decision making process followed by consumers to maximize utility assumes that

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  1. 18 October, 09:54
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    The decision-making process followed by consumers to maximize utility assumes that the consumer has a limited income, the consumer is able to rank their preferences, the consumer behaves rationally.

    The term utility used by the economist as a measure of satisfaction, happiness, a joy of a person.
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