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When and why should a utility approach be applied?

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In addition to providing an explanation of consumer disposition of income, utility theory is useful in establishing individual consumer demand curves for goods and services. A consumer's demand curve for a good or service shows the different quantities that consumers purchase at various alternative prices.

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utility theory is useful in establishing individual consumer demand curves for goods and services. A consumer's demand curve for a good or service shows the different quantities that consumers purchase at various alternative prices. And at different times it could be applied.

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