Micro terms

?
Y D W I T W R S N S R V L W X U T H P S K
P R L B U P A Q O E J N A Y O P G E U L D
F D O E M P T U I C A R F M W G R O R E I
K T I R P I I A T N R E X A G U P D E I I
K F N G Y D O S A E V S N J U V M G P N C
R T L S K Y N I C R T E O O P P S N U Y E
U B G O E F A L O E R R O R L W O I B N T
W V P N J N L I L F H V E I U A W T L I L
I O B S R E P N L E R A B T R E H O I S E
Q O K A O F R E A R F T O Y A D Y V C Q I
W P M M X U E A R P T I U V L Q A R G Y R
I Q A U P R F R I E M O Q O I L G E O D O
V C D E R T E U A T B N H T T S J D O V G
Y E E L E U R T F E T P T I Y B B R D W Y
P W R S N U E I U L K R X N V D C O C W T
S Y B O V L N L J P N I A G O F E K W D H
G Y C N R S C I P M A C M X T X G N Q H L
K S G S A X E T E O I E A P I V R A O N Q
F W N W G U S Y W C V G Q B N V C R J J E
Y D N F A P J Q U D I N M O G V N X I P A
Q Q I O E E E C M Q X C F Q U E J K R C S

Clues

  • A good that is both non-rivalled in consumption and non-excludable (4, 6, 4)
  • Alternatives are ranked, winner is alternative with lowest total rank (4, 5, 6)
  • An allocation that is both equitable and Pareto Efficient (4, 10)
  • Every pair must be comparable (8, 11)
  • Individual utilities depend only on individual consumptions (7, 9, 3)
  • Individuals have one vote, alternative with most votes wins (9, 6)
  • Preferences that are both complete and transitive (8, 11)
  • The maximum amount an individual is willing to pay for a good (11, 5)
  • Utility function that is the sum of a function of utility and a linear function of all other goods (the numeraire) (11, 7)
  • Winner selected if it receives more than 50% of the vote (8, 6)

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Micro terms resources »