What are consumers assumed to maximize? What are some constraints under which this maximization takes place? Describe

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What are consumers assumed to maximize? What are some constraints under which this maximization takes place? Describe the individual consumer’s constrained maximum. Can you characterize this constrained maximum as a point where marginal cost and marginal benefit are equal?

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Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

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