Class notes
Business Economics (utility)
Rating
Sold
-
Pages
13
Uploaded on
28-02-2023
Written in
2022/2023
Microeconomic analysis is the study of economic behavior at the individual or small group level. Utility refers to the satisfaction or pleasure that a consumer derives from consuming a good or service. In microeconomic analysis, utility is used to explain how consumers make choices among goods and services in order to maximize their satisfaction, subject to budget constraints. Utility can be measured in different ways, but the most common method is through the use of utility functions, which assign a numerical value to each level of satisfaction. These functions are used to analyze how changes in prices, income, and other factors affect consumer behavior and market outcomes.
Show more
Read less
Institution
Stanford University
Course
Business (BUSI10)
Whoops! We can’t load your doc right now. Try again or contact support.
Written for
- Institution
-
Stanford University
- Course
-
Business (BUSI10)
Document information
- Uploaded on
- February 28, 2023
- Number of pages
- 13
- Written in
- 2022/2023
- Type
- Class notes
- Professor(s)
- Steven clark
- Contains
- All classes
Subjects
- business
- economics
- utility
- introduction
- analysis
- elasticity
- demand
-
forecasting
$5.49
Get access to the full document:
100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached
Get to know the seller
sadhakraj
Also available in package deal
Package deal
Micro Economic Analysis (01-05)
5
2023
$ 27.45
More info
