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The Basic Micro Switch Can Be Obtained with a Variety

question 8

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The basic micro switch can be obtained with a variety of different activating arms.

Identify equilibria through mathematical manipulation of utility functions and initial endowments.
Explain how changes in initial endowments affect market outcomes and individual consumption.
Use the concept of Pareto efficiency to evaluate allocations in a two-good economy.
Understand Csikszentmihalyi's model of Flow and its relationship with task complexity and skill level.

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