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The top documents tagged [higher utility level]
Slide 1 AGEC 640 – Agricultural Policy Farm productivity and technology Thursday, September 5 th, 2013 Finish-up a few lingering slides from Tuesday Then…Food
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Chapter Four Utility. Utility Functions A utility function U(x) represents a preference relation if and only if: x’ x” U(x’) > U(x”) x’ x” U(x’)
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Slide 1 AGEC 640 – Agricultural Policy Farm productivity and technology Thursday, September 11 th, 2014 Food supply First the “econ 101” theory of induced
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Chapter Eight:
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Consumer behaviour: Ordinal approach Now, we go to the ordinal approach. Ordinalist cares only about ranking. It doesn’t matter if we say U(A) = 20, U(B)
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Chapter Eight: Consumption and the Consumer Society
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