Answer to Question #228669 in Microeconomics for Santoo

Question #228669
WHAT IS UTILITY MAXIMISATION
1
Expert's answer
2021-08-24T03:07:02-0400

Utility maximization is a mode of modelling choice through assuming a person's preferences may be represented through utility function they seek maximizing. It may be utilized in modeling personal consumers, companies and through replacement of utility function by social welfare.


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