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Synopsis of Chapter-3 of the textbook - Economics:The Essentials

How the hypothesis of diminishing marginal utility is used to describe both the demand curve's negative slope and consumer surplus - a central concept in benefit-cost analysis;

How small user charges can generate both large resource savings and small reductions in household utility; and

How supply and demand analysis is used to determine the extent to which taxes can be passed on to others.

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M927469

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