The second in a series of Microeconomics study resources that looks at consumer behavior theory , a branch of microeconomics that seeks to understand how individuals make decisions regarding the purchase, consumption, and disposal of goods and services. It explores the factors and processes that influence consumers’ choices, preferences, and behaviors in the marketplace.
This resource looks at consumer equilibrium, and how it helps consumers maximize their utility when they spend their given income on one or more commodities, and have no urge to change this level of consumption, given the prices of commodities. It covers:
- Consumer equilibrium in the case of a single commodity
- Consumer equilibrium in the case of two or more commodities
Something went wrong, please try again later.
This resource hasn't been reviewed yet
To ensure quality for our reviews, only customers who have purchased this resource can review it
Report this resourceto let us know if it violates our terms and conditions.
Our customer service team will review your report and will be in touch.
£1.50