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  2. Shephard's lemma - Wikipedia

    en.wikipedia.org/wiki/Shephard's_lemma

    Shephard's lemma is a major result in microeconomics having applications in the theory of the firm and in consumer choice. [1] The lemma states that if indifference curves of the expenditure or cost function are convex , then the cost minimizing point of a given good ( i {\displaystyle i} ) with price p i {\displaystyle p_{i}} is unique.

  3. Template:Microeconomics - Wikipedia

    en.wikipedia.org/wiki/Template:Microeconomics

    A navigational box that can be placed at the bottom of articles. Template parameters [Edit template data] Parameter Description Type Status State state The initial visibility of the navbox Suggested values collapsed expanded autocollapse String suggested Template transclusions Transclusion maintenance Check completeness of transclusions The above documentation is transcluded from Template ...

  4. Input–output model - Wikipedia

    en.wikipedia.org/wiki/Input–output_model

    Consistency analysis explores the consistency of plans of buyers and sellers by decomposing the input–output table into four matrices, each for a different kind of means of payment. It integrates micro and macroeconomics into one model and deals with money in a value-free manner. It deals with the flow of funds via the movement of goods.

  5. Slutsky equation - Wikipedia

    en.wikipedia.org/wiki/Slutsky_equation

    Slutsky derived this formula to explore a consumer's response as the price of a commodity changes. When the price increases, the budget set moves inward, which also causes the quantity demanded to decrease. In contrast, if the price decreases, the budget set moves outward, which leads to an increase in the quantity demanded.

  6. Hotelling's lemma - Wikipedia

    en.wikipedia.org/wiki/Hotelling's_lemma

    Hotelling's lemma is a result in microeconomics that relates the supply of a good to the maximum profit of the producer. It was first shown by Harold Hotelling, and is widely used in the theory of the firm.

  7. Marginal factor cost - Wikipedia

    en.wikipedia.org/wiki/Marginal_factor_cost

    In microeconomics, the marginal factor cost (MFC) is the increment to total costs paid for a factor of production resulting from a one-unit increase in the amount of the factor employed. [1] It is expressed in currency units per incremental unit of a factor of production (input), such as labor , per unit of time.

  8. Roy's identity - Wikipedia

    en.wikipedia.org/wiki/Roy's_identity

    Roy's identity (named after French economist René Roy) is a major result in microeconomics having applications in consumer choice and the theory of the firm.The lemma relates the ordinary (Marshallian) demand function to the derivatives of the indirect utility function.

  9. List of price index formulas - Wikipedia

    en.wikipedia.org/wiki/List_of_price_index_formulas

    It was inadequate for that purpose. In particular, if the price of any of the constituents were to fall to zero, the whole index would fall to zero. That is an extreme case; in general the formula will understate the total cost of a basket of goods (or of any subset of that basket) unless their prices all change at the same rate.