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Results tagged with Search options user 2759

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).

6
votes
2answers
I am looking for a simple explanation of the implication of having homothetic/nonhomethetic preferences in relation to consumers' preferences when consuming goods.
asked Jan 19 '16 by StatsScared
0
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0answers
For instance, across regions of a country or between countries. Is that different preferences for food lead to distinct relative prices in different regions or countries? Or is it the other way aroun …
asked Apr 26 by StatsScared
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2answers
...when Engels Law, backed by a good amount empirical evidence, demonstrates that overall consumer preferences are not homothetic. See for example, Jorgenson (1997)
asked Feb 11 '16 by StatsScared
7
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1answer
I have little to no background in micro, but I'm learning about utility functions. It seems that there are many forms of utility functions for households. In general terms, how does one go on to sel …
asked May 12 '16 by StatsScared