Consumer Behavior and Production Theories Comparison Essay by Master Researcher

Consumer Behavior and Production Theories
This paper compares the theories of consumer behavior and production.
# 33432 | 1,900 words | 2 sources | 2002 | US
Published on Nov 05, 2003 in Economics (Micro) , Business (Consumer Behavior)

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This paper points out that the two theories are similar because both are directly connected with economic functions of demand and supply, but the difference lies in the primary objectives of these theories. The author points out that consumer behavior is studied to understand the changes in the demand curve, which occur with changes in prices of commodities. The paper relates that production theory deals with the concept of diminishing costs.

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