MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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... choice - the science that explains the choices that people make and pre- dicts how changes in circumstances affect their choices . To make a choice , we balance the benefits of hav- ing more of one thing against the costs of having less ...
... choice - the science that explains the choices that people make and pre- dicts how changes in circumstances affect their choices . To make a choice , we balance the benefits of hav- ing more of one thing against the costs of having less ...
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... choice can be summarized as follows : The choices made by real people resemble the choices made by the artificial people in the model economy . Spending patterns in the model look like the actu- al spending patterns in the real world ...
... choice can be summarized as follows : The choices made by real people resemble the choices made by the artificial people in the model economy . Spending patterns in the model look like the actu- al spending patterns in the real world ...
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Michael Parkin. KEY ELEMENT S QUESTION CHAPTER 8 POSSIBILITIES , PREFERENCES , AND CHOICES PROBLEM MS. The theory of household choice based on this model is that the choices made in the real world cor- respond to choices made in the model ...
Michael Parkin. KEY ELEMENT S QUESTION CHAPTER 8 POSSIBILITIES , PREFERENCES , AND CHOICES PROBLEM MS. The theory of household choice based on this model is that the choices made in the real world cor- respond to choices made in the model ...
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amount average benefit budget calculate called capital cars CHAPTER choices cloth competitive consumer consumption corn cost curve countries decreases demand curve depends determined dollars economic effect elasticity elasticity of demand equal equilibrium example expected Explain factor falls Figure firms future given graph higher hour household illustrates important income increases individual industry input interest labor less long-run look loss lower marginal cost marginal revenue marginal utility measured million monopoly month opportunity cost output percent percentage person possible preferences problem production profit quantity demanded questions regulation relationship rent result rises scale sell shifts short-run shown shows slope soda sold substitution supply curve sweaters tapes theory things tion total cost trade units utility variable wage wage rate wealth week workers