Examlex
Divide using long division.
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Utility Function
An economic model that ranks an individual's preferences for different combinations of various goods and services.
Edgeworth Box
A diagrammatic tool used in microeconomics to show various distributions of resources or outcomes between two agents in an economy.
Contract Curve
In economics, a curve representing the set of optimal allocation points for two parties trading two goods, assuming utility maximization.
Competitive Equilibrium
A state in a market where supply equals demand, and the prices enable buyers and sellers to be in equilibrium.
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