Section 3 introduces utility theory, a building block of consumer choice theory that provides a quantitative model for a consumer’s preferences and tastes.
Section 4 surveys budget constraints and opportunity sets.
Section 5 covers the determination of the consumer’s bundle of goods and how that may change in response to changes in income and prices.
Section 6 examines substitution and income effects for different types of goods.
Section 3 introduces utility theory, a building block of consumer choice theory that provides a quantitative model for a consumer’s preferences and tastes.
Section 4 surveys budget constraints and opportunity sets.
Section 5 covers the determination of the consumer’s bundle of goods and how that may change in response to changes in income and prices.
Section 6 examines substitution and income effects for different types of goods.
Section 3 introduces utility theory, a building block of consumer choice theory that provides a quantitative model for a consumer’s preferences and tastes.
Section 4 surveys budget constraints and opportunity sets.
Section 5 covers the determination of the consumer’s bundle of goods and how that may change in response to changes in income and prices.
Section 6 examines substitution and income effects for different types of goods.
Answer
consumer choice theory
If you want to change selection, open original toplevel document below and click on "Move attachment"
Parent (intermediate) annotation
Open it This reading is organized as follows:
Section 2 describes consumer choice theory in more detail.
Section 3 introduces utility theory, a building block of consumer choice theory that provides a quantitative model for a consumer’s preferences and tastes.
Original toplevel document
1. INTRODUCTION y. In this reading, we examine the theory of the consumer as a way of understanding where consumer demand curves originate. In a subsequent reading, the origins of the supply curve are sought in presenting the theory of the firm.
<span>This reading is organized as follows: Section 2 describes consumer choice theory in more detail. Section 3 introduces utility theory, a building block of consumer choice theory that provides a quantitative model for a consumer’s preferences and tastes. Section 4 surveys budget constraints and opportunity sets. Section 5 covers the determination of the consumer’s bundle of goods and how that may change in response to changes in income and prices. Section 6 examines substitution and income effects for different types of goods. A summary and practice problems conclude the reading.
<span><body><html>
Summary
status
not learned
measured difficulty
37% [default]
last interval [days]
repetition number in this series
0
memorised on
scheduled repetition
scheduled repetition interval
last repetition or drill
Details
No repetitions
Discussion
Do you want to join discussion? Click here to log in or create user.