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Economics - Fmu

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Issue:

Business

 

Written by:

Sandra M

 

Date added:

February 12, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 899

 

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8295 times

 

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Examples of this are Coke and Pepsi or Minute Maid Orange Juice and Tropicana Orange Juice or Betty Crocker, Pillsbury or Duncan Hines cake mixes. Perfect complements have right-angled indifference curves. If goods can only be used together, there is no satisfaction in having more of A without additional amounts of B (i...
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left and right shoe). In general, the better substitutes goods are, the straighter the indifference curve. “BASIC ECONOMICS: Theory of Consumer Choice”, http://www.basiceconomics.info/theory-of-consumer-choice.php 2-11 Most people leave a tip in a restaurant to reward the waitress (or waiter) for good service (filling tea glasses, keeping coffee hot, bringing food to table, etc...
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