MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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... result that Lisa's consumption of movies increases . For soda , the substitution effect and the income effect work in opposite directions , with the result that Lisa's consumption of soda decreases . The example that we have just ...
... result that Lisa's consumption of movies increases . For soda , the substitution effect and the income effect work in opposite directions , with the result that Lisa's consumption of soda decreases . The example that we have just ...
˹éÒ 439
... result of the life - cycle consumption smoothing described above . Another influence on the supply of capital is the average income level . The higher the level of income , the larger is the supply of capital . A growing popu- lation ...
... result of the life - cycle consumption smoothing described above . Another influence on the supply of capital is the average income level . The higher the level of income , the larger is the supply of capital . A growing popu- lation ...
˹éÒ 611
... result , the price of orange juice rises . Faced with the higher price , peo- ple have an incentive to economize on orange juice and they decrease the quantity demanded . At the same time , the higher price of orange juice induces an ...
... result , the price of orange juice rises . Faced with the higher price , peo- ple have an incentive to economize on orange juice and they decrease the quantity demanded . At the same time , the higher price of orange juice induces an ...
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allocative amount average total cost benefit budget line bushels buyers calculate capital cars change in price CHAPTER choices competitive consumer surplus consumption cost curve decreases demand and supply demand curve economic economists elasticity of demand equal equilibrium example factors of production falls Figure firm's firms graph haircuts higher hour household income effect increases indifference curve industry inelastic input interest rate isocost labor Lisa Lisa's long-run lower marginal cost marginal product marginal rate marginal revenue marginal revenue product marker pens million tapes monopoly movies and soda oligopoly opportunity cost output percent perfect competition Price dollars production possibility frontier profit quantity bought quantity demanded quantity supplied rate of substitution relationship rent rises sell short-run shows six-packs slope sold supply curve Swanky tapes a week tion total revenue total utility unemployment units utility per dollar wage rate wealth workers zero