UTILITY AND DEMAND Utility is a measure of the value which consumers of a product or service place on that product or service;
{"Image DocumentName": "UTILITY AND DEMANDUtility is a measure of the value which consumers of a product or service place on that product or service;", "Image ImageDescription": "Demand is obtained by sorting consumers\u2019 value of product units from high to low. If we assume that consumers will buy when the price is less than the value they receive, then this gives a function relating price to quantity demanded.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}