Utility Theory is a theory within economics, it's a concept of utility that is space to model worth of value period it has evolved over time I'm cured the term was initially used as a measure of pressure or certification within the theory of utilitarianism by moral philosophers period return has been adapted and reapplied within neoclassical economics which dominates modern economic. A theory such as utility function that represents consumer preference period utility had that have therefore become a more abstract Concepts that is not purely based on satisfaction or pressure received from the consumer. Utility function considers a set of alternatives you are facing an individual of which the individual has a preference to one of those.
Investopedia. (2019). Utility Definition. [online] Available at: https://www.investopedia.com/terms/u/utility.asp.
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