Lec 2: Preferences and Utility Function

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MIT 14.01 Principles of Microeconomics, Fall 2023
Instructor: Prof. Jonathan Gruber
View the complete course: ocw.mit.edu/courses/14-01-principles-of-microeconomics-spring-2023/
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In this lecture, Prof. Gruber talks about where consumer decisions come from, beginning with consumer preferences. He then builds on these concepts to explain the utility function, which is a mathematical expression of consumer preference. Keywords: micoreconomics, consumer demand, preferences, utility function

License: Creative Commons BY-NC-SA
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