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Welfare Economics Paradigm

MUNGER: CHAPTER 7
WORD LIST:
AVERAGE COST
COMPLETENESS
CONSUMER SURPLUS
COST FUNCTION
DISTORTION
ELASTICITY
FREE RIDING
HORIZONTAL EQUITY
INSATIABILITY
LINDAHL
MARGINAL COST
MARKET DEMAND
NATURAL PRICE
PRICE ELASTICITY
PRICE TAKER
PRODUCTION FUNCTION
PUBLIC GOOD
TRANSIVITY
VERTICAL EQUITY
WELFARE