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Old Friday, March 22, 2013
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Default consumer behaviour
can any one plz guide that which consumer behaviour approach is more superior out of indifference curve approach and revealed preference approach
plz do guide me i am really confused
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Old Friday, March 22, 2013
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Originally Posted by maria anum View Post
can any one plz guide that which consumer behaviour approach is more superior out of indifference curve approach and revealed preference approach
plz do guide me i am really confused
revealed preference theory is not used by economist anymore because of its tricky method... secondly it has no further applications... whereas ic approach is concerned; it is easy to understand, is applied in firm behaviour as isoquants, gives you the idea of MRS which is again used as MRTS as well as in PFF, hope that helped you...
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