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Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4

Question

When a consumer assigns a number to his prefered bundles, we have two sets of numbers. One set consists of [...]. The other is the set of numerical quantities of the goods that are contained in each of the respective bundles.

Answer

the pieces of paper he has laid on the bundles

Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4

Question

When a consumer assigns a number to his prefered bundles, we have two sets of numbers. One set consists of [...]. The other is the set of numerical quantities of the goods that are contained in each of the respective bundles.

Answer

?

Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4

Question

When a consumer assigns a number to his prefered bundles, we have two sets of numbers. One set consists of [...]. The other is the set of numerical quantities of the goods that are contained in each of the respective bundles.

Answer

the pieces of paper he has laid on the bundles

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#### Parent (intermediate) annotation

**Open it**

When a consumer assigns a number to his prefered bundles, we have two sets of numbers. One set consists of the pieces of paper he has laid on the bundles. The other is the set of numerical quantities of the goods that are contained in each of the respective bundles.

#### Original toplevel document

**3. UTILITY THEORY: MODELING PREFERENCES AND TASTES**

them, he must assign the same number to both. Other than that, he is free to begin with any number he wants for the first bundle he considers. In this way, he is simply ordering the bundles according to his preferences over them. <span>Of course, each of these possible bundles has a specific quantity of each of the goods and services. So, we have two sets of numbers. One set consists of the pieces of paper he has laid on the bundles. The other is the set of numerical quantities of the goods that are contained in each of the respective bundles. Under “reasonable assumptions” (the definition of which is not necessary for us to delve into at this level), it is possible to come up with a rule that translates the quantities of goo

When a consumer assigns a number to his prefered bundles, we have two sets of numbers. One set consists of the pieces of paper he has laid on the bundles. The other is the set of numerical quantities of the goods that are contained in each of the respective bundles.

them, he must assign the same number to both. Other than that, he is free to begin with any number he wants for the first bundle he considers. In this way, he is simply ordering the bundles according to his preferences over them. <span>Of course, each of these possible bundles has a specific quantity of each of the goods and services. So, we have two sets of numbers. One set consists of the pieces of paper he has laid on the bundles. The other is the set of numerical quantities of the goods that are contained in each of the respective bundles. Under “reasonable assumptions” (the definition of which is not necessary for us to delve into at this level), it is possible to come up with a rule that translates the quantities of goo

status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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repetition number in this series | 0 | memorised on | scheduled repetition | ||||

scheduled repetition interval | last repetition or drill |

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