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If all individuals have identical utility functions and the marginal utility of income decreases as income increases, transferring income from what, will do what to total utility? A. from the rich to the poor; increase B. from the rich to the poor; decrea ...
Rational(intnumerator =0,//ctor is deliberately not explicit;intdenominator =1);//allows implicit int-to-Rational conversionsintnumerator()const;//accessors for numerator and denominator — see Item 22intdenominator()const;private://...}; You know you’' like to support arithmetic operations li...
How are consumer surplus and producer surplus related to the efficiency of markets? Set up the utility maximization problem for each consumer. Then solve for the Marshallian demand functions of good x and good y for each consumer as a function of prices. Consider a two consum...