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ECON-1010-D1/D2-Introduction to Microeconomics
MATCHING DEFINITION Any combination of goods and services within the budget of...

MATCHING DEFINITION Any combination of goods and services within the budget of...

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MATCHING DEFINITION

Any combination of goods

and services within the budget of an economic agent.

Affordable Quantities

Behavioral economics

Benefit

Best Affordable Choice

Bounded rationality

Bounded self-interest

Bounded willpower

Budget equation

Budget line

Change in demand

Change in the quantity demanded

Complements

Consumer equilibrium

Consumer surplus

Demand

Demand curve

Diminishing marginal rate of substitution

Diminishing marginal utility

Divisible variable

Endowment effect

Income effect

Income

Indifference curve

Indivisible variable

Inferior good

Marginal rate of substitution

Marginal utility

Marginal utility theory

Marginal utility per dollar

Neuroeconomics

Normal good

Perfect complements

Perfect substitutes

Preferences

Price effect

Price

Real Income

Relative price

Substitutes

Substitution effect

Total effect

Total utility

Unaffordable Quantities

Utility

Utility-Maximizing Rule

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