The theory of consumer behavior - Balan Aliona

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Write the definitions  utility  total utility  marginal utility  law of diminishing of marginal utility (the first law of Gössen)  utility maximizing rule (the second law of Gössen)  indifference curve  indifference map  marginal rate of substitution, MRS  budget line  consumer equilibrium  „Income-consumption” curve  Engel curve  „Price-consumption” curve TRUE-FALSE QUESTIONS 1.Utility is the level of satisfaction that a person gets from consuming a good. 2.When total utility is at a maximum, marginal utility is also maximized. 3. If marginal utility is diminishes and is a positive amount, total utility will increase. 4.As a rule, as a consumer acquires more and more of a good, the marginal utility decreases 5.The slope of the budget line is determined only by the prices of the commodities purchased. ...