Representing budgets and preferences

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Reference no: EM131385875

CONSUMER PROBLEMS

1) Representing Budgets and Preferences: How do you translate from a description to budgets/indifference curves

2) Optimal Choice: At the optimal bundle what relation does the indifference curve have to the budget line?

3) Risk and Insurance: How do we represent a risk-averse consumer’s preferences over consumption in mutually exclusive and probabilistic states of the world.

4) Demand: How does optimal choice respond to changes in prices and incomes, at the individual and market level, for difference sorts of goods?

Reference no: EM131385875

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