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econ 101 > test #2 > Flashcards

test #2 Flashcards

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1
Q

How to find Utils

A

(MU/P1) = (MU/P2)

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2
Q

How to maximize utility

A

entirely exhausting budget & reallocating budget to increase consumption of one product in order to decrease utility, equaling the same utility for a different product

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3
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econ 101 (2 decks)

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