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why do economists use a utility function to present an economic agent’s preference ? Is this utility-...

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Finance

whydo economists use a utility function to present an economic agent’spreference ? Is this utility- based approach plausible?

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Utility function is synonymous with happiness satisfaction welfare and state of being better off When alternatives are given an economic agent tends to choose the alternative that makes him happier    See Answer
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whydo economists use a utility function to present an economic agent’spreference ? Is this utility- based approach plausible?

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