Consumer choice
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The theory of consumer and choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption as measured by their preferences subject to limitations on their expenditures, by maximizing utility subject to a consumer budget constraint.
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See also
- Convex preferences
- Consumer sovereignty
- Consumerism
- Important publications in consumer theory
- Indifference curves
- Microeconomics
- Opportunity cost
- Producer theory – the dual of consumer theory
- Supply and demand
- Utility maximization problem
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