Determination of Break-Even Point through Consumer Preference Relation

Authors

  • Gopal Man Pradhan Tribhuvan University
  • Phanindra Kumar Katel Nicholson College

DOI:

https://doi.org/10.3126/batuk.v7i2.39503

Keywords:

consumption preference, utility function, axioms, convex, break-even point

Abstract

Social choice theory beliefs about how the consumers function to chose their interested goods and services. Preference relation with affine indifference curves that has a concave representation has a linear utility representation. This study asks how individual preference relations might be combined to give a single ordering which captures the overall wishes of the group of individuals. There are certain properties that one would like such a utility rule, utility have thus become a more abstract concept that is not necessarily solely based on the satisfaction or pleasure received. Concept of cardinal utility is studied in three different situations Debreu (1958) gave quite different approach. This study maintains link between mathematical theory and financial concept to determine break-even point through the consumers’ preference relation.

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Author Biographies

Gopal Man Pradhan, Tribhuvan University

Associate Professor

Phanindra Kumar Katel, Nicholson College

Faculty

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Published

2021-09-17

How to Cite

Pradhan, G. M., & Katel, P. K. (2021). Determination of Break-Even Point through Consumer Preference Relation. The Batuk, 7(2), 67–76. https://doi.org/10.3126/batuk.v7i2.39503

Issue

Section

Part II: Humanities and Social Sciences