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About Lecture Notes 2
This document provides lecture notes on consumer choice theory and the derivation of demand curves. It discusses: 1) The consumer's problem of choosing an optimal bundle of goods given their preferences and budget constraints. 2) How to represent consumer preferences through indifference curves, which show combinations of goods providing equal satisfaction. 3) How the slope of an indifference curve represents the marginal rate of substitution between goods. 4) How a collection of indifference curves can be used to map out a consumer's complete preference relationship, with higher curves representing more preferred bundles.
Detailed Information
| Author: | ['Lucas Zogbi'] |
|---|---|
| Publication Year: | 2021 |
| Pages: | 18 |
| Language: | English |
| Format: | |
| Price: | FREE |
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