What do mean by utility theory n thnx 2 all.
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Utility theory. bases its beliefs upon individuals' preferences. It is a theory postulated in economics to explain behavior of individuals based on the premise people can consistently rank order their choices depending upon their preferences. ... that seeks to explain the individuals' observed behavior and choices.
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It is a theory postulated in economics to explain behavior of individuals based on the premise people can consistently rank order their choices depending upon their preferences.
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