📚
Все вопросы
- An economist would describe the distinction between the prices of the two kinds of apartments in this model by saying that the price of the outer-ring apartments is an exogenous variable, while the price of the inner-ring apartments is an …. #171
- Financial institutions loan money only to individuals but to each other. #172
- In the case of a … good and quasilinear utility, the utility associated with the consumption of n units of the discrete good is just the sum of the first n reservation prices. #173
- This sum is the gross benefit of consuming the good. If we … the amount spent on the purchase of the good, we get the consumer’s surplus. #174
- The change in … surplus associated with a price change has a roughly trapezoidal shape. It can be interpreted as the change in utility associated with the price change. #175
- In general, we can use the compensating variation and the equivalent variation in income to measure the monetary impact of a … change. #176
- If utility is …, the compensating variation, the equivalent variation, and the change in consumer’s surplus are all equal. #177
- In the case of supply behavior we can define a producer’s surplus that measures the net benefits to the supplier from producing a given amount of output. #178
- The term v(n) − pn is called consumer’s surplus. #179
- If a single consumers is involved we can add up each consumer’s surplus across all the consumers to create an aggregate measure of the consumers’ surplus. #180