ECO204Y5 Study Guide - Quiz Guide: Substitute Good, Pea Soup, Marginal Utility
Document Summary
Pts ome increase economic m nt pea soup rect concep good: as inco goods: ? no e. Recall the in- co oconuts w illing to give: indiff ference curve, how m many fish ar, so ext treme prefer. I really like buy more fis are perfect su e fish, i get 0 sh ubstitutes. Both extr don"t me re to read al: failur. Tips for a assumption, ement is true ments or perf rd sloping an no explanati e if leisel m fect substitut nd convex sh ion: eminger doe tes. : the more b l utility rule a new unit o he gets from d sloping (slo of the other ooks liesel of books. oping is nega r). , the mrs is ht line. ment: lined statem s as perfect s constant. Explanation ope of the in n: when pea ndifference c soup curve explanation: a constant s e pea soup a but not conv.
