Intermediate microeconomics : A modern approach
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4 citations
Cites background from "Intermediate microeconomics : A mod..."
...From a micro-economic perspective, such issue epitomizes the concept of Paretto-Koopmans efficiency [28], related to...
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Cites background from "Intermediate microeconomics : A mod..."
...“Public goods” is a term deployed to denote “a good that must be provided in the same amount to all the affected consumers” (Varian 1999, 618)....
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4 citations
Cites background from "Intermediate microeconomics : A mod..."
...The proportion of income required to purchase a service also plays a key role: products requiring a larger portion of the consumer’s income tend to have greater elasticity [41]....
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...A common model used for elastic demand is a linear demand function [41]....
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...Setting the marginal cost to a constant is reasonable for a large range of demand, but grows in steps after reaching some critical limit [41]....
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