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ECON 208 (210)
Lecture

ECON 208 CH6 Consumer Behaviour.pdf

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Department
Economics (Arts)
Course
ECON 208
Professor
Michel Lapointe
Semester
Fall

Description
ECON 208 Introduction To Microeconomics Chapter 6 Consumer Behaviour Consumers are motivated to maximize their utilityUtility is the satisfaction that consumers derive from goods and services they consumeTotal utility is the total satisfaction resulting from the consumption of a given commodity by a consumerMarginal utility is the additional satisfaction obtained by a consumer from consuming one additional unit of a commodityLaw of diminishing marginal utilityThe utility that any consumer derives from successive units of
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