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#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
A distinctly different consumption bundle would contain all of the same goods but in different quantities, again allowing for the possibility of a zero quantity of one or more of the goods.
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3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
mer might enjoy consuming. Each of those goods and services can be represented in a given basket by a non-negative quantity, respectively, of all the possible goods and services. Any given basket could have zero of one or more of those goods. <span>A distinctly different consumption bundle would contain all of the same goods but in different quantities, again allowing for the possibility of a zero quantity of one or more of the goods. For example, bundle Amight have the same amount of all but one of the goods and services as bundle B but a different amount of that one. Bundles A and B would be considered two distinct


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