About the utility
Utility is..
1. Subjective and difficult to measure
2. The consumption of a quasi-public good like electricity or natural gas
3. Easily measured in units called units
4. The production of a quasi-public good like electricity or natural gas
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the price elasticity of demand for stork ice cream is -4 suppose youre told that following a price increase quantity
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utility is1 subjective and difficult to measure2 the consumption of a quasi-public good like electricity or natural
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1 if price were increased from 25 to 26 and quantity demanded fell from 10 to 9 calculate elasticity state whether
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