- marshallian
- mar·shall·ian
English syllables. 2014.
marshallian
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Marshallian demand function — In microeconomics, a consumer s Marshallian demand function (named after Alfred Marshall) specifies what the consumer would buy in each price and wealth situation, assuming it perfectly solves the utility maximization problem. Marshallian demand… … Wikipedia
Marshallian surplus — In economics, marshallian surplus, is the idea that economic welfare is divided into producer surplus and consumer surplus. It was named after Alfred Marshall.Consumer surplus is the willingness to pay over and above what they have to pay. It is… … Wikipedia
marshallian — (ˈ)mär|shalēən adjective Usage: usually capitalized Etymology: Alfred Marshall died 1924 British economist + English ian : of or relating to the economist Marshall or to his theories or followers … Useful english dictionary
Supply and demand — For other uses, see Supply and demand (disambiguation). The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a… … Wikipedia
Lionel Robbins, Baron Robbins — Lionel Charles Robbins, Baron Robbins (1898 2008) was a British economist and adherent to the Austrian School of Economics. He is known for his proposed definition of economics, and for his instrumental efforts in shifting Anglo Saxon economics… … Wikipedia
Hicksian demand function — In microeconomics, a consumer s Hicksian demand correspondence is the demand of a consumer over a bundle of goods that minimizes their expenditure while delivering a fixed level of utility. If the correspondence is actually a function, it is… … Wikipedia
Deadweight loss — created by a binding price ceiling. Producer surplus is necessarily decreased, while consumer surplus may or may not increase; however the decrease in producer surplus must be greater than the increase (if any) in consumer surplus. In economics,… … Wikipedia
Economic growth — GDP real growth rates, 1990–1998 and 1990–2006, in selected countries … Wikipedia
Utility maximization problem — In microeconomics, the utility maximization problem is the problem consumers face: how should I spend my money in order to maximize my utility? Basic setupSuppose their consumption set, or the enumeration of all possible consumption bundles that… … Wikipedia
General equilibrium — theory is a branch of theoretical microeconomics. It seeks to explain the behavior of supply, demand and prices in a whole economy with several or many markets. It is often assumed that agents are price takers and in that setting two common… … Wikipedia
