Fill in the Blank with Words from Section 1

question 37

Short Answer

Fill in the blank with words from section 1.2 that complete this sentence.
Neurons are cells in the brain that use chemical and electrical signals to communicate. An electrical signal known as an ________________________ travels along the __________________________ of a neuron. The signal is then communicated to the next cell via chemical _________________________ which cross the _______________________ and are detected by molecular receptors on dendrites.

Calculate the optimal consumption bundle using the marginal utility per dollar spent.

Describe the substitution and income effects on consumer choice and demand.

Distinguish between normal goods and Giffen goods based on their reaction to price changes.

Utilize consumer equilibrium tables to determine utility-maximizing combinations of goods under budget constraints.