EC-1011: Equations Flashcards by Jake Bailey | Brainscape

Q

Utility

Lecture 1

A

u(X) - single good X

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Q

Gradient equation

Lecture 2

A

Y = mx + C

dumbass

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Q

Marginal rate of substitution

Lecture 3

A

ΔY/ΔX = -MU (x) / MU (y)

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Q

Consumer income equation

Lecture 3

A

M = PxX + PyY

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Q

Income elasticity of demand

Lecture 3

A

Δ quantity demanded /Δ income

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