"Valuing Cultural Diversity in Cities: Challenges to Cultural Economics", Procida (Naples, Italy), 5th of September 200 Foundations of Microeconomic Theory.
1 The Market Molly W. Dahl Georgetown University Econ 101 – Spring 2009.
Ch7
Ch3
Chapter Four Utility. Preferences - A Reminder u x y: x is preferred strictly to y. x y: x and y are equally preferred. u x y: x is preferred at least.
Course: Microeconomics Text: Varian’s Intermediate Microeconomics 1.
Chapter Four Utility. Utility Functions A utility function U(x) represents a preference relation if and only if: x’ x” U(x’) > U(x”) x’ x” U(x’)
PPA 723: Managerial Economics
Chapter Four
1 Preferences Molly W. Dahl Georgetown University Econ 101 – Spring 2009.
Chapter 3 Preferences. 2 Introduction The economic model of consumer behavior is very simple: people choose the best things they can afford. The last.
Chapter Three Preferences. u Consumer behavior is best understood in three distinct steps: 1. Consumer Preferences: The first step is to find a practical.
