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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
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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 …
1
vote
3
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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?