Examlex
To calculate the breakeven point in a multiproduct situation, one must assume that the sales mix of the various products remains constant.
Revealed Preference
A theory that determines consumer's preferences by observing their purchasing habits and behaviors instead of their preferences being explicitly stated.
Revealed Preference
A theory that assumes individuals' preferences can be determined by their purchasing habits.
Weak Axiom
A principle in consumer choice theory stating that if a consumer prefers bundle A over bundle B when both are available at the same prices, then the consumer will not purchase more of bundle B if its price rises.
Revealed Preference
An economic theory stating that the preferences of consumers can be understood by their purchasing habits.
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