4 the Consumer Choice Problem
نویسنده
چکیده
In previous notes, we introduced the primary building blocks of the consumer choice problem budget sets, preferences, and the represetation of preference by utility functions. In this note we combine these elements to solve the consumers problem. Recall that informally, the consumer’s problem (as envisioned by the economist) is to make oneself as well of as one can. Formally we might write the problem as
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