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Marginal Rates
The amount of change in a variable (often related to costs or taxes) associated with a one-unit change in another variable.
Utility Functions
Mathematical representations describing the level of satisfaction or utility that a consumer derives from consuming a good or combination of goods.
Equilibrium
A state of balance in a market, where demand equals supply, and economic forces are at rest.
Welfare Economics
Normative evaluation of markets and economic policy.
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