7Lecture

7Lecture - Production Theory Q = f(L,K Q = f(x1 – xc Q=...

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Lecture 7 13:15 Consumer Behavior from last class When you spend money you want good value Consumer Surplus CS = (P2 – P1) Q / 2 Utility cannot stay constant, it is about what we like 
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Unformatted text preview: Production Theory Q = f(L,K) Q = f(x1 – xc) Q= f(L) 13:15 13:15...
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This note was uploaded on 02/23/2012 for the course 373 421 taught by Professor Sani during the Spring '12 term at Rutgers.

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7Lecture - Production Theory Q = f(L,K Q = f(x1 – xc Q=...

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