Transcription of Microeconomics -1 - Consumers
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Microeconomics -1 - Consumers
Microeconomics -1 - Consumers John Riley October 23, 2018 A1. The simple mathematics of elasticity 2 A2. The Envelope Theorem 7 B. Income and substitution effects 15 C. Application: Labor supply 24 D. Determinants of demand 28 E. Measuring consumer gains and losses 38 Technical Notes* 46 1. Equivalent Variation 2. Mathematics of income and substitution effects 3. Superlevel sets of the aggregated utility function 58 slides *Not examinable. Will be omitted from the lectures. Microeconomics -2 - Consumers John Riley October 23, 2018 A1.
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