Discuss the importance of utility in explaining consumer choice:Describe how advertising attempts to increase utility.

 

•Discuss the importance of utility in explaining consumer choice.

•Derive an individual demand curve for a good based on the equation for maximizing total utility and the principle of diminishing marginal utility.

•Apply utility theory to explanations of consumer behavior.

•Identify and describe the concept of consumer surplus

.•Describe how advertising attempts to increase utility

Last Completed Projects