Economy, asked by Rickyanthony2169, 1 year ago

Explain the revealed preference theory of demand.

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Answered by khushi769
1
Hey!!



The Revealed Preference Theorywhich has been put forward by Paul Samuelson seeks to explainconsumer's demand from his actual behaviour in the market in various price-income situations. ... In other words, revealed preference theory regards utilities to be merely comparable and not quantifiable.
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