How can the Demand Curve be derived from the Utility Maximum Principle?
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Seminar paper from the year 2013 in the subject Economics - Macro-economics, general, grade: 2,3, University of applied sciences, Nürnberg (IOM), course: MBA, language: English, abstract: This assignment shows how the demand curve can be derived by the utility maximum principle. To get this answer the author will firstly define the main issues out of the top-ic. The result is that for theoretical models like the demand curve or the utility maximum principle it is necessary to have perfect markets with perfect marketers. These perfect marketers are the so called homo oeconomicus which act rati...
Seminar paper from the year 2013 in the subject Economics - Macro-economics, general, grade: 2,3, University of applied sciences, Nürnberg (IOM), course: MBA, language: English, abstract: This assignment shows how the demand curve can be derived by the utility maximum principle. To get this answer the author will firstly define the main issues out of the top-ic. The result is that for theoretical models like the demand curve or the utility maximum principle it is necessary to have perfect markets with perfect marketers. These perfect marketers are the so called homo oeconomicus which act rational and compare every possible opportunity with their opportunity costs to get the optimal benefit by a given income and a defined price. At least with the help of the budget line which charts the available income and the indifference curve which describes the optimal demanded unit of a good bundle, the demand curve can be derived.
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