level of utility
41Indifference curve — In microeconomic theory, an indifference curve is a graph showing different bundles of goods, each measured as to quantity, between which a consumer is indifferent. That is, at each point on the curve, the consumer has no preference for one… …
42Labour economics — seeks to understand the functioning of the market and dynamics for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demanders of labour… …
43Cost of living index — A cost of living index is a theoretical price index that measures relative cost of living over time. There are many different methodologies that have been developed to approximate cost of living indexes, including methods that allow for… …
44Cost-of-living index — A cost of living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions to other items as prices… …
45Gorman polar form — is a functional form for indirect utility functions in economics. Imposing this form on utility allows the researcher to treat a society of utility maximizers as if it consisted of a single representative individual. W. M. Gorman showed that… …
46Welfare economics — Economics …
47Marginal rate of substitution — In economics, the marginal rate of substitution is the rate at which a consumer is ready to give up one good in exchange for another good while maintaining the same level of utility. Contents 1 Marginal rate of substitution as the slope of… …
48William H. Starbuck — Infobox Scientist name = William Starbuck image width = 150px caption = birth date = birth date|1934|9|20|mf=y birth place = Portland, Indiana residence = citizenship = nationality = ethnicity = field = Cognitive Psychologist Organizational… …
49Consumer choice — Economics …
50Shephard's lemma — is a major result in microeconomics having applications in consumer choice and the theory of the firm. The lemma states that if indifference curves of the expenditure or cost function are convex, then the cost minimizing point of a given good (i) …
