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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
Bundle A might 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 [...]
Answer
distinct bundles.

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
Bundle A might 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 [...]
Answer
?

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
Bundle A might 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 [...]
Answer
distinct bundles.
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Bundle A might 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 bundles.

Original toplevel document

3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
ave zero of one or more of those goods. 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, <span>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 bundles. Given this understanding of consumption bundles, the first assumption we make about a given consumer’s preferences is simply that she is able to make a comparison between a

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