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marginalism

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economics utility margin marginal incremental value price demand supply equilibrium allocation optimization cost benefit production consumption choice preference substitution opportunity cost satiation wealth market exchange trade valuation subjectivism microeconomics macroeconomics resource scarcity efficiency surplus deficit incentive rationality agent utility function derivative calculus slope rate increment threshold limit maximization minimization equilibrium price consumer surplus producer surplus indifference curve budget constraint elasticity marginal cost marginal revenue marginal product marginal utility Pareto efficiency

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