The utility derived from consumption is intangible and unobservable. Therefore, the utility concept has no practical value.

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"The utility derived from consumption is intangible and unobservable. Therefore, the utility concept has no practical value.” Discuss this statement.

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Managerial Economics

ISBN: 978-0324588866

12th edition

Authors: Mark Hirschey

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Question Posted: Feb 13, 2015 09:48 AM

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The utility derived from consumption is intangible and unobservable. Therefore, the utility concept has no practical value.

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The utility derived from consumption is intangible and therefore unobservable However when g...View the full answer

Managerial Economics

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