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The paper examines three extensively used propositions regarding changes in utility and social welfare attributable to small changes in consumption bundles. It is shown that, though these propositions are valid when the changes in consumption bundles are ``infinitesimally small,''' none of the...
Persistent link: https://www.econbiz.de/10005094599
The paper examines three extensively used propositions regarding changes in utility and social welfare attributable to small changes in consumption bundles. It is shown that, though these propositions are valid when the changes in consumption bundles are ``infinitesimally small,''' none of the...
Persistent link: https://www.econbiz.de/10010629895