utility level
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… …
42Cost 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… …
43Cost-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… …
44Labor theory of value — The labor theories of value (LTV) are theories in economics according to which the values of commodities are related to the labor needed to produce them.There are many different accounts of labor value, with the common element that the value of… …
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… …
46Criticisms of the labour theory of value — often arise from an economic criticism of Marxism. Contents 1 Microeconomic theory 2 Supply and demand 3 Jevons 4 Menger s critique …
47Compensating variation — In economics, compensating variation (CV) is a measure of utility change introduced by John Hicks (1939). Compensating variation refers to the amount of additional money an agent would need to reach its initial utility after a change in prices,… …
48Naval Observatory Vector Astrometry Subroutines — Not to be confused with Novas Software. NOVAS Developer(s) United States Naval Observatory Stable release C3.0 (C version); F3.0 (Fortran version) / December 31, 2009 (C); December 23, 2009 (FORTRAN) …
49Roy's identity — (named for French economist Rene Roy) is a major result in microeconomics having applications in consumer choice and the theory of the firm. The lemma relates the ordinary demand function to the derivatives of the indirect utility function.… …
50Slutsky equation — The Slutsky equation (or Slutsky identity) in economics, named after Eugen Slutsky (1880 1948), relates changes in Marshallian demand to changes in Hicksian demand. It demonstrates that demand changes due to price changes are a result of two… …
