Unformatted text preview: monotonicity and con-tinuity can be represented by a utility function. Proof: Let us Frst show that for every bundle x , there is a bundle on the main diagonal (having equal quantities of all commodi-ties), such that the consumer is indifferent between that bun-dle and the bundle x . (See Fg. 4.1.) The bundle x is at least as good as the bundle 0 = ( 0, . . . , 0 ) . On the other hand, the bundle...
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- Fall '10
- Utility, utility representation