Consumer choice - revealed preferences, Microeconomics

Consumer Choice 

* Decision making & Public Policy

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

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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

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Revealed Preferences--Four Budget Lines

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

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