Utility and production

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This book features significant updates from the first edition, including three entirely new chapters (2, 6, and 9) and added sections in chapters 1, 4, and 8. Chapters 3, 5, and 7 have also been revised and updated. In chapters 2 and 6, alternative theories of consumer and company behavior are introduced alongside neo-classical models. The structure includes four chapters dedicated to theory (1, 2, 5, and 6) and four that focus on theoretical and empirical applications (3, 4, 7, and 8). Chapter 9 addresses decision-making under uncertainty. Acknowledgment is given to CICYT for financial support. The text explores economic theories on Utility and Production, applying them to real-world consumer and firm issues, alongside studies conducted by the author. Contributions from other Economics professors are noted in footnotes, though the author assumes full responsibility for any errors or omissions. Chapters 1 and 4 present the theory of Utility and Production, while chapter 3 introduces new functional forms and empirical applications related to demand functions and systems. Chapters 2 and 5 apply the main theorems and properties discussed earlier.