Consumer choice - revealed preferences, Microeconomics

Consumer Choice 

* Decision making & Public Policy

- Selecting from a non matching and matching grant to fund police expenditures

2412_budget line.png

1408_budget line1.png
187_budget line2.png
1060_budget line3.png

Revealed Preferences

* If we know the choices which the consumer has made, we can determine what her preferences or priorities are if we have information about sufficient number of choices which are made when prices and incomes vary.

Revealed Preferences--Two Budget Lines

821_budget line4.png
1834_budget line5.png

Revealed Preferences--Four Budget Lines

395_budget line6.png

2207_budget line7.png

Posted Date: 10/10/2012 6:22:38 AM | Location : United States







Related Discussions:- Consumer choice - revealed preferences, Assignment Help, Ask Question on Consumer choice - revealed preferences, Get Answer, Expert's Help, Consumer choice - revealed preferences Discussions

Write discussion on Consumer choice - revealed preferences
Your posts are moderated
Related Questions
Examine the factors that influence a country s exchange rate. Suppose and define a floating exchange rate, the major issue here is to outline the factors influencing the supply

What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic

Name the five types of capital. The five types of capital are:  natural capital, manufactured capital, human capital, social capital and financial capital.

please may you explain this concept

my assignment is about richardian model and wanna ask you about few questions

I have an assignment need to be done

A surplus on the current account of balance of payments can be financed by? 1. Inflow capital on capital account 2. A surplus on the government budget deficit 3. lending abroad on

Problems Using Point Elasticity - We may need to compute price elasticity over portion of demand curve instead of at a single point. - The price and quantity used as base wi

Export Entrepreneurship: This need be developed by providing necessary facilities and making export an attractive and profitable business proposition. In this connection, it