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OTM 300 EXAM 1|187 Questions with Verified Answers - a measure of how much you like a product or service, ignoring the effects of price and of the inconvenience of obtaining the product or service - performance and fit - drives our demand - CORRECT ANSWER consumption utility - utility based on what it costs to obtain - ex) we match any price in town - CORRECT ANSWER price - utility based on the efficiency of obtaining - referred to as transaction costs - location and timing - CORRE...

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