Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

1. An indifference curve is defined as a set of bundles that a consumer with a given income can afford, and among which she or he is indifferent. 2. More is preferred to less means that if the total ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. Robert Kelly is managing director of XTS Energy LLC, and has ...