Lecture 2 Review of Microeconomic Theory(1).pdf

Lecture 2 Review of Microeconomic Theory(1).pdf - Lecture 2...

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Lecture 2: Review of Microeconomic Theory
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Outline The Theory of Consumer Choice and Demand The Theory of Supply Market Equilibrium Monopoly Market
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Consumer Choice and Demand The principal behavioral postulate is that a decisionmaker chooses its most preferred alternative from those available to it. The available choices constitute the choice set. How is the most preferred bundle in the choice set located?
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