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ECON 2300 (25)
Final

2300 Final.docx

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Department
Economics
Course
ECON 2300
Professor
Barry Smith
Semester
Winter

Description
Chapter2BudgetConstraintMP1X1P2X2MP1P2constantSlopeP1P2AffectthebudgetlinechangeofMP1orP2BudgetsetwithrationingTaxingconsumptiongreaterthanpointStampsDiscountFreeChapter3PreferencesCompleteComparetwobundlesAandBTherearethreepossibilitiesAispreferredBispreferredtheyareindifferentReflexiveAnybundleisasgoodasitselfIeAATransitiveIfABandBCthenACStrictConvexityneededonlyforwelldefinedpreferencesIfAzandBzthenaA1aBzThisassumptionisequivalenttoadiminishingMRSNoCrossingBetweenTwoIndifferentCurvesPerfectsubstitutesUaxbyUyellowpencilredpencilPerfectcomplementsUminaxbyUcoffeesugarNeutralgoodUxULeftShoe
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