Do you want BuboFlash to help you learning these things? Or do you want to add or correct something? Click here to log in or create user.



#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Two indifference curves for a given individual cannot cross because the transitivity assumption would be violated.
If you want to change selection, open document below and click on "Move attachment"

3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
l generally be strictly convex and negatively sloped, and they cannot cross. These are the only restrictions we place on indifference curve maps. Exhibit 4. Why One Person’s Indifference Curves Cannot Cross Note: <span>Two indifference curves for a given individual cannot cross because the transitivity assumption would be violated. 3.5. Gains from Voluntary Exchange: Creating Wealth through Trade There is no requirement that all consumers have the same preferences. Take the


Summary

statusnot read reprioritisations
last reprioritisation on suggested re-reading day
started reading on finished reading on

Details


Discussion

Do you want to join discussion? Click here to log in or create user.