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Microeconomics is a branch of economics that studies the market behavior of individual actors (usually firms and consumers) and the aggregation of their actions in different institutional frameworks (usually the market).

4 votes
1 answer
131 views

Utility representation of single peaked preferences

Is it true that a single-peaked preference (with the peak at some finite point) over the set of real numbers, always has a utility representation ?? If yes, can you please hint towards the proof or re …
Polime's user avatar
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1 vote
3 answers
775 views

Upward sloping demand curves can’t exist!

How can upward sloping demand curves exist given that consumer surplus will always be negative? So, why would a person ever buy a positive quantity?
Polime's user avatar
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