Microstatics

actually alternatives amount analysis assume assumption average cost axis behavior choice coalition commodity compensating variation competitors considered constant consumer consumer's surplus consumption contract curve corresponding demand curve determined diagram economic theory elasticity Engel curve entrepreneur equal equilibrium point example factors of production fairly FIGURE firms given imputation income effect increase Index Numbers indicated indifference curves indifference map individual industry input J. R. HICKS labor less man-days marginal cost marginal product marginal rate marginal revenue marginal utility marginal-cost curve monopolist monopoly monopsony numéraire obtained offer curve operation optimum output P₁ perfect competition period plant players possible pounds of meat preferences price line production function profit quantity ranking rate of substitution relative represent REStud result scale sellers selling situation social social-welfare function strategy supply curve tangent theory of games true index unit utility function utility of money variation various