15. Complete description of an indifference curve\'s shape 16. The relationship

Question

15. Complete description of an indifference curve's shape 16. The relationship of two commodities aloe one budget line 17. What MRS stands for 18. 19 The relationship of this two graphical illustrations tells the best combination in the consumption of times following a limited budget 20. The potential consumption of a certain item based on Its market price and the income of its buyers 21. Principles behind a consumer finding a consumption mu that will garner him the highest level of satisfaction 22. Formula for Marginal Utility 23. It is the function of the units of consumption 24. Seeking for this combination can increase the level of the consumers' satisfaction even at a limited budget 25. Every peso spent should yield the highest of this as possible.

Explanation / Answer

15. Convexity

16. Optimal expenditure

17. Marginal rate of substitution

18-19. Optimal condition where the ratio of the slope of marginal utilities of two goods is equal to the price ratio of those corresponding goods

20. Rational consumer's

21. Intertemporal choice

22. MUx=Px

23. Income

24. Price cut of a good

24. Optimization

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.