Exam (elaborations)
EC325 Exam || with 100% Correct Answers.
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MRS formula correct answers MRS=MUx/MUy Lagrangian correct answers L(Qx,Qy)=U(Qx,Qy)-l(PxQx+PyQy-Y) Compensated Demand correct answers movement along the utility curve (SE) Weak Axiom of Revealed preferences (WARP) correct answers if x is revealed preferred to y in one situation, then y is...
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