How is this logic applied to explain the rate of interest

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Reference no: EM133315026

Question: At the foundation of the new 'marginalist' economics of Jevons, Walras and Menger is a conception of individual economic behaviour as governed by a pleasure/pain calculus, aimed at maximizing utility net of disutility. Outline and critically appraise the logic of this idea. How is this logic applied to explain 'the rate of interest', understood as the remuneration of capital?

Reference no: EM133315026

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