A utility function is of the form utility = U(QA, QB, ... ,QN), where the variables are [...]A through N. We assume that no quantities are negative (some may be zero), and that holding all other quantities constant while increasing one always results in greater utility.
A utility function is of the form utility = U(QA, QB, ... ,QN), where the variables are [...]A through N. We assume that no quantities are negative (some may be zero), and that holding all other quantities constant while increasing one always results in greater utility.
A utility function is of the form utility = U(QA, QB, ... ,QN), where the variables are [...]A through N. We assume that no quantities are negative (some may be zero), and that holding all other quantities constant while increasing one always results in greater utility.
Answer
quantities consumed of goods
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Open it A utility function is of the form utility = U(Q A , Q B , ... ,Q N ), where the variables are quantities consumed of goods A through N. We assume that no quantities are negative (some may be zero), and that holding all other quantities constant while increasing one always results in greater utility.</
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p48
Summary
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