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EC311 · Intermediate Microeconomics

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EC311 / TOPIC 02

2.1 Preferences, utility and MRS

A teaching model for this topic. Its illustrative numbers may differ from the worked question.

  1. 01Predict
  2. 02Try
  3. 03Explain
  4. 04Challenge

What does moving along an indifference curve mean?

Illustrative model numbers, not Thailand or current economic data.

Increase X on the same U=16 curve. What happens to Y?