Chapter 5: Micro Flashcards
1
Q
Budget constraint
A
111
2
Q
Budget line
A
128
3
Q
Consumer surplus
A
122
4
Q
Diminishing marginal utility
A
110
5
Q
Income effect
A
114
6
Q
Indifference curve
A
129
7
Q
Individual demand curve
A
119
8
Q
Marginal benefit
A
116
9
Q
Marginal rate of substitution
A
130
10
Q
Marginal utility
A
108
11
Q
Market demand curve
A
120
12
Q
Substitution effect
A
114
13
Q
Tangency point
A
131
14
Q
Utility maximisation
A
111
15
Q
Utility
A
108
