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Consumer choice theory begins with a fundamental model of how [...] might be represented.

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consumer preferences and tastes

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2. CONSUMER THEORY: FROM PREFERENCES TO DEMAND FUNCTIONS
consumer, also known as consumer choice theory. Consumer choice theory can be defined as the branch of microeconomics that relates consumer demand curves to consumer preferences. Consumer choice theory begins with a fundamental model of how <span>consumer preferences and tastes might be represented. It explores consumers’ willingness to trade off between two goods (or two baskets of goods), both of which the consumer finds beneficial. Consumer choice theory th

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