MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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... equal , she cannot get more total utility by spending differently . Her total utility is maxi- mized . Units of Utility In calculating the utility - maximizing allocation of income in Table 7.3 and Fig . 7.4 , we have not used the ...
... equal , she cannot get more total utility by spending differently . Her total utility is maxi- mized . Units of Utility In calculating the utility - maximizing allocation of income in Table 7.3 and Fig . 7.4 , we have not used the ...
˹éÒ 175
... equal , the higher the price of a good , the lower is the quantity demanded of that good . Second , it predicts that , other things being equal , the higher the consumer's income , the greater is the con- sumption of all normal goods ...
... equal , the higher the price of a good , the lower is the quantity demanded of that good . Second , it predicts that , other things being equal , the higher the consumer's income , the greater is the con- sumption of all normal goods ...
˹éÒ 182
... equals income ( on the right side of the equation ) . Look at the elements of expen- diture . Expenditure is equal to the sum of the expen- ditures on each of the goods . Expenditure on any one good equals its price multiplied by the ...
... equals income ( on the right side of the equation ) . Look at the elements of expen- diture . Expenditure is equal to the sum of the expen- ditures on each of the goods . Expenditure on any one good equals its price multiplied by the ...
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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