tailieunhanh - Lecture Principles of economics (Asia Global Edition) - Chapter 5

Chapter 4 - Demand. After studying this chapter you will be able to understand: Relate the law of demand to the cost-benefit principle, discuss how individual wants are translated into demand, explain the reasoning behind the rational spending rule and apply it to consumer decision making to show how the rule is related to substitution and income effects, discuss the relationship between the individual demand curve and the market demand curve, define and calculate consumer surplus. |

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