The utility function for money is a curve that depicts the relationship between d. monetary value and utility.
In economics, software is a term used to decide the real worth or fee of an amazing service. More specifically, the application is the total pleasure or benefit derived from ingesting a good or provider. Monetary theories primarily based on rational preference generally count on consumers will attempt to maximize their software.
Utility refers to the complete advantages obtained from ingesting an object or carrier. This sums up the utility definition. Purchasers could normally aim to maximize their application primarily based on rational preference based on monetary fashions.
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