Oct 5 Consumer Demand

Oct 5 Consumer Demand - ConsumerDemand:IndividualDemand

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    Consumer Demand: Individual Demand  vs Market Demand Schedules – --  10/5/10 AEC 305, Food and Agricultural Marketing Principles AEC 305, Food and Agricultural Marketing Principles CHAPTER 4
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    Consumer Demand Theory Individual consumers or households  make choices among products to  maximize their satisfaction or _________   subject to resource or _________  constraints Inverse relationship between price  and quantity – Law of Demand AEC 305, Food and Agricultural Marketing Principles AEC 305, Food and Agricultural Marketing Principles   utility income
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      Consumer Demand Schedules  (cont.) A demand schedule represents the quantities  that an individual will consume at alternative  prices at a given time and a given place,  holding all other factors constant such as: Individual’s Income Individual’s Tastes and preferences Prices of substitutes and compliments Can be represented in tabular, graphical, and  mathematical forms AEC 305, Food and Agricultural Marketing Principles AEC 305, Food and Agricultural Marketing Principles
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    AEC 305, Food and Agricultural Marketing Principles AEC 305, Food and Agricultural Marketing Principles Individual Demand for Pizza –  Tabular Form Price ($) Quantity 5 4 10 3 15 2 20 1 25 0
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This note was uploaded on 01/13/2011 for the course AEC aec 305 taught by Professor Dr.williamm.snell during the Spring '10 term at Kentucky.

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Oct 5 Consumer Demand - ConsumerDemand:IndividualDemand

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