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Consumer Theory
Total Utility and Marginal Utility
MU not diminishing
Indifference curve and diminishing MRSxy
budget line
optimal choice
Monopoly Market
Profit Maximization
MR and AR for linear demand curve
Example of profit maximization
Marginal Revenue and Elasticity of Demand
Inverse elasticity price rule
Two Methods to calculate P and Q
Midpoint rule
Lerner Index
Perfect Competition
perfect competition
Profit maximizing quantity
short run equilibrium
short run supply
Long run equilibrium