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Comparative statics and constrained optimization

Assignment Help Macroeconomics
Reference no: EM131071121

Define the two phrases/terms and then explain the relationship (similar and difference) between them. (!!!!intermediate economic!!!!)

1. Comparative Statics and Constrained Optimization

2. Pareto Optimality and Potential Pareto Improvement

3. Marginal rate of substitution and the Price ratio

4. Transitivity and Monotonicity

5. Indifference curves and Utility functions

6. Price offer curve and Income offer curve

7. Engel curve and Demand curve

Reference no: EM131071121

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