Demand Theory: Constraints and Optimization

  • Michael R. Hammock
  • J. Wilson Mixon
Chapter

Abstract

This chapter introduces the budget constraint and combines the budget constraint with the preferences developed in the preceding chapter to provide a model of rational consumer choice.

Keywords

Income 

References

  1. 1.
    Baldani J, Bradfield J, Turner RW (1996) Mathematical economics. Dryden, Fort WorthGoogle Scholar
  2. 2.
    Doi J, Iwasa K, Shimomura K (2009) Giffen behavior independent of the wealth level. Econ Theory 41:247–267CrossRefGoogle Scholar
  3. 3.
    Nicholson W, Snyder C (2008) Microeconomic theory: basic principles and extensions, 11th edn. South-Western, MasonGoogle Scholar

Copyright information

© Springer Science+Business Media, LLC 2013

Authors and Affiliations

  • Michael R. Hammock
    • 1
  • J. Wilson Mixon
    • 2
  1. 1.Department of Economics and FinanceMiddle Tennessee State UniversityMurfreesboroUSA
  2. 2.Berry CollegeMount BerryUSA

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