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The Standard Model of the Household — Microfoundations of Consumer Behavior
https://doi.org/10.1142/9789812779632_0002Cited by:0 (Source: Crossref)
Abstract:
The following sections are included:
In Pursuit of Happiness
Utility: The Economics Profession's Name for Happiness
Total Utility and Marginal Utility: What Goes Up Must Come Down
Utility Maximization
Indifference curves
Budget constraint
Consumer equilibrium
Effect of a change in income
Effect of a change in price
Demand and supply curves
An Efficient Market — The Invisible Hand Adjustment
Conclusion
Bibliography
