Examlex
ASTM specifications classify masonry mortar into Type M, Type S, Type N, and Type O. The mortar can be specified based on the volume proportions of its three ingredients (Portland cement, lime, and sand)or based the mortar's strength. Which of the two specification methods-proportion specification or strength specification
-is commonly used?
Equal Marginal Principle
Principle that utility is maximized when the consumer has equalized the marginal utility per dollar of expenditure across all goods.
Hicksian Substitution Effect
Alternative to the Slutsky equation for decomposing price changes without recourse to indifference curves.
Indifference Curves
A graph showing different bundles of goods between which a consumer is indifferent.
Lagrangian
Function to be maximized or minimized, plus a variable (the Lagrange multiplier) multiplied by the constraint.
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