MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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˹éÒ 160
... utility helps us make predictions about consumption choices in much the same way that the concept of temperature helps us make pre- dictions ... Utility and Marginal Utility Units of utility 160 Total Utility and Consumption Marginal Utility.
... utility helps us make predictions about consumption choices in much the same way that the concept of temperature helps us make pre- dictions ... Utility and Marginal Utility Units of utility 160 Total Utility and Consumption Marginal Utility.
˹éÒ 163
... marginal utility per dollar spent on movies is 50 units divided by $ 6 , or 8.33 units of utility per dollar . Total utility is maximized when all the consumer's income is spent and when the marginal utility per dollar spent is equal ...
... marginal utility per dollar spent on movies is 50 units divided by $ 6 , or 8.33 units of utility per dollar . Total utility is maximized when all the consumer's income is spent and when the marginal utility per dollar spent is equal ...
˹éÒ 175
... utility from the goods consumed , and the consumer's total utility increases as consumption of the good increases . The change in total utility resulting from a one - unit increase in the consump- tion of a good is called marginal utility .
... utility from the goods consumed , and the consumer's total utility increases as consumption of the good increases . The change in total utility resulting from a one - unit increase in the consump- tion of a good is called marginal utility .
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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