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


The section is divided in:

3.1. Axioms of the Theory of Consumer Choice

3.2. Representing the Preference of a Consumer: The Utility Function

3.3. Indifference Curves: The Graphical Portrayal of the Utility Function

3.4. Indifference Curve Maps

3.5. Gains from Voluntary Exchange: Creating Wealth through Trade

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