# Questions tagged [microeconomics]

Microeconomics is a branch of economics that studies the market behavior of individual actors (usually firms and consumers) and the aggregation of their actions in different institutional frameworks (usually the market).

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### Is the book by Nicholson and Snyder more rigorous when compared to Varian's Intermediate Microeconomics?

I am about to start learning college level Economics and the two books that are commonly used are Intermediate Microeconomics by Hal Varian and Microeconomic Theory: Basic Principles and Extensions by ...
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### Marginal and Average costs for constant returns to scale production function being constant

Suppose that we are dealing with a production function $q = f(k,l)$, of inputs capital and labor. If this function exhibits constant returns to scale then I know that both the marginal cost and ...
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### If utility function is convex, what can be said about preference relation?

It is known that if a utility function is concave, then it is quasiconcave, and the preference relation is convex. What can be said if a utility function is convex? I've found on the Internet then in ...
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### If utility function is homogenous of order 1, then partial derivatives of demand function are equal

Prove that if $U(\alpha x)=\alpha U(x)$, then $$\frac{\partial x_i(p,w)}{\partial p_j}=\frac{\partial x_j(p,w)}{\partial p_i}$$ for any $i$ and $j$. I've proved that $x(p,\alpha w)=\alpha x(p,w)$, but ...
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### About infinite strategy sets and $\epsilon$-equilibrium from Game Theory: Analysis of Confilct by Roger Myerson

I am studying infinite strategy sets using Myerson's Game Theory: Analysis of Conflict. On Page 143, he defines an $\epsilon$-equilibrium as follows: Definition For any nonnegative number $\epsilon$, ...
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