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Все вопросы
- In this task, economists are guided by the …, which states that people typically try to choose what’s best for them, and by the equilibrium principle, which says that prices will adjust until demand and supply are equal. #111
- Households with … incomes had to pay more for their allotment of food stamps. Thus the slope of the budget line would become steeper as household income increased. #112
- Economists assume that a consumer can rank various consumption possibilities. The way in which the consumer ranks the consumption bundles describes the consumer’s …. #113
- Indifference curves can be used to depict different kinds of …. #114
- Well-behaved preferences are monotonic (meaning more is better) and … (meaning averages are preferred to extremes). #115
- The … measures the slope of the indifference curve. This can be interpreted as how much the consumer is willing to give up of good 2 to acquire more of good 1. #116
- We call the objects of consumer choice … bundles. #117
- Two goods are … if the consumer is willing to substitute one good for the other at a constant rate. #118
- … complements are goods that are always consumed together in fixed proportions. #119
- A … is a neutral good if the consumer doesn’t care about it one way or the other. #120