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Tag: utility

Posted on 24 May 20126 June 2012

Sharing resources and utility curves

A fundamental concept in economics is that of trade.  Two parties will want to share their possessions in a way that benefits them both.  The Edgeworth Box is a graphical representation of this trading; before looking at the overall box, however, it’s important to understand an individual’s utility curves. Continue reading “Sharing resources and utility curves”

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