Wealth and Welfare

actual analysis application assumption B-bundles catallactics classical commodities comparison compensating variation compensation competitive concept consumer's surplus consumers consumption course demand curve diagram diminishing distribution economic welfare economists elasticity of complementarity elasticity of substitution equation equilibrium essay expenditure-curve factors factors of production frontier further gain given income effect income-elasticity of demand increase independent index-number indifference curve indifference-curve individual input integrability labour less marginal costs marginal rate marginal utility means negative Opportunity Cost optimum organisation output paper particular perfect competition Pigou position possible price-line principle problem purchased q₁ quantities question rate of substitution real income relation represented scale of preferences sense shown Slutsky equation Social Income Social Product sources suppose taken theory things tion utility function utility measure valuation voting wants welfare economics whole ду