#gossen's_second_law
Gossen's second law
Optimize by equalizing marginal utilities
Gossen's Second “Law”, named for Hermann Heinrich Gossen (1810–1858), is the assertion that an economic agent will allocate his or her expenditures such that the ratio of the marginal utility of each good or service to its price is equal to that for every other good or service. Formally,
Thu 7th
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