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#4-3-the-investment-opportunity-set #cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-5-consumer-equilibrium #study-session-4
The consumer desires to reach the indifference curve that is farthest from the origin, while not violating the budget constraint.
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5. CONSUMER EQUILIBRIUM: MAXIMIZING UTILITY SUBJECT TO THE BUDGET CONSTRAINT
Exhibit 11. Consumer Equilibrium Note: Consumer equilibrium is achieved at point a, where the highest indifference curve is attained while not violating the budget constraint. <span>The consumer desires to reach the indifference curve that is farthest from the origin, while not violating the budget constraint. In this case, that pursuit ends at point a, where she is purchasing W a ounces of wine along with B a slices of bread per month. It is important to note that this equilibrium point re


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