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About Good Notes For Reference
This document contains lecture notes on microeconomics. It discusses key concepts including: 1) Budget constraints and how they define the set of affordable bundles for consumers. Budget constraints can be kinked or discontinuous due to factors like taxation or non-linear pricing. 2) Marshallian or uncompensated demands, which are a consumer's chosen quantities as a function of their budget and prices. It examines how demands change with total budget, own prices, and other prices. 3) Preferences and assumptions made about preferences like completeness, transitivity, and continuity, which ensure preferences can be represented by indifference curves. Indifference curves visualize bundles that provide equal utility or satisfaction.
Detailed Information
| Author: | ['Joe Emmental'] |
|---|---|
| Publication Year: | 2019 |
| Pages: | 23 |
| Language: | English |
| Format: | |
| Price: | FREE |
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