Notes! 10-13-15 POLI 2500-02
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This 1 page Class Notes was uploaded by Natalie Notetaker on Thursday October 15, 2015. The Class Notes belongs to POLI 2500-02 at Tulane University taught by Michael Tyburski in Summer 2015. Since its upload, it has received 39 views. For similar materials see International Relations in Political Science at Tulane University.
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Date Created: 10/15/15
At what point on a budget constraint should a person spend her money what combination of the two goods will maximize utility What does tangent mean touches at just one point at that point they have the same scope l take this and turn it into the rational spending rule rational spending rule ePN PV MUN MUV PNMUV PvMUN Muvl PV PN Law of demand as the price increases decreases the quantity demanded decreases increases holding everything else PKISSESD going to get steeper cant afford same combination Indifference curve will change if my taste in preference changes Income effect work together towards law of demand Substitution effect
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