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  • Format: ePub

What is Consumer Choice
The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption, by maximizing utility subject to a consumer budget constraint.Factors influencing consumers' evaluation of the utility of goods include: income level, cultural factors, product information and physio-psychological factors.
How you will benefit
(I) Insights, and validations about the following topics:
Chapter 1: Consumer choice
Chapter
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Produktbeschreibung
What is Consumer Choice

The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption, by maximizing utility subject to a consumer budget constraint.Factors influencing consumers' evaluation of the utility of goods include: income level, cultural factors, product information and physio-psychological factors.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Consumer choice

Chapter 2: Utility

Chapter 3: Indifference curve

Chapter 4: Budget constraint

Chapter 5: Substitute good

Chapter 6: Marginal rate of substitution

Chapter 7: Income-consumption curve

Chapter 8: Substitution effect

Chapter 9: Law of demand

Chapter 10: Utility maximization problem

Chapter 11: Marshallian demand function

Chapter 12: Revealed preference

Chapter 13: Hicksian demand function

Chapter 14: Corner solution

Chapter 15: Relative price

Chapter 16: Local nonsatiation

Chapter 17: Quasilinear utility

Chapter 18: Homothetic preferences

Chapter 19: Preference (economics)

Chapter 20: Robinson Crusoe economy

Chapter 21: Linear utility

(II) Answering the public top questions about consumer choice.

(III) Real world examples for the usage of consumer choice in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Consumer Choice.


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