swetha305
May 1, 2008, 06:16 PM
Good day.
1. "The utility derived from consumption is tangible and unobservable. Therefore, the
utility concept has no practical value." How to explain this statement?
2. What would an upward-sloping demand curve imply about the marginal utility derived
Form consumption? Why aren't upward-sloping demand curves observed in the real
World?
Regards,
Swetha
1. "The utility derived from consumption is tangible and unobservable. Therefore, the
utility concept has no practical value." How to explain this statement?
2. What would an upward-sloping demand curve imply about the marginal utility derived
Form consumption? Why aren't upward-sloping demand curves observed in the real
World?
Regards,
Swetha