Part 3 Uncertainty and Strategy © 2006 Thomson Learning/South-Western.
Utility and Demand CHAPTER 7. After studying this chapter you will be able to Explain what limits a household’s consumption choices Describe preferences.
Utility and Demand CHAPTER 7. 2 After studying this chapter you will be able to Explain what limits a household’s consumption choices Describe preferences.
Consumer behaviour: Ordinal approach Now, we go to the ordinal approach. Ordinalist cares only about ranking. It doesn’t matter if we say U(A) = 20, U(B)
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