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Department of Economics Faculty of Economics and Management doc. Ing. Iveta Zentková, PhD. 07 / 2006 Microeconomics Essays by Alexander Frech Felix Hötzinger Olaf Löbl…

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Lec 2 Utility Maximization Utility is a purely theoretical construct defined as: · If an individual prefers bundle x-(x1,x2) to another bundle y-(y1,y2) then an individual…