Economy, asked by kawal4906, 1 year ago

Explain revealed preference theory by Samuelson.

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Answered by khushi769

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Hey!!

Revealed preference theory, pioneered by economist PaulSamuelson, is a method of analyzing choices made by individuals, mostly used for comparing the influence of policies on consumer behavior. ... This diminishing MRS relied on the assumption that consumers make consumption decisions to maximise their utility.

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