11/2/2023 0 Comments Satisfaction tv series on demand![]() ![]() The theory of consumer demand can be studied at two different levels, viz., at the individual level and at the aggregative (market) level. Most contemporary economists hold the approach taken by Edge worth and Pareto, in which demand has only ordinal characteristics, and in which indifference or preference becomes central to the analysis It is against this backdrop that we study the theory of consumer demand. ![]() Marshall viewed demand in a cardinal context, in which utility could be quantified. Current theory rests on the foundations laid by A. The theory of demand was mostly implicit in the writings of classical economists before the 19th century.
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