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What Is Total Utility Formula?

January 24, 2024 by Emily Lee

What Is Total Utility Formula? TU = Total Utility. U = Utility. MU = Marginal Utility. The total utility is equal to the sum of utils gained from each unit of consumption. In the equation, each unit of consumption is expected to have slightly less utility as more units are consumed. What is the formula

What Is Bernoulli Utility Function?

January 24, 2024 by Maria LaPaige

What Is Bernoulli Utility Function? What is the Bernoulli Utility Function? Simply put that, a Bernoulli Utility Function is a kind of utility function that model a risk-taking behavior such that, If someone has more wealth, she will be much comfortable to take more risks, if the rewards are high. What is expected utility function