Marginalism Questions

William Stanley Jevons

Briefly introduce utility theory from Bentham

In contrast to our labor theory of value?

Explain total utility VS final degree of utility

Explain relative price equation

Is everyone of us has the same preferences?

Why Jevon’s capital theory against Ricardo’s?

Carl Menger

Explain Menger’s table

What are the differences between Menger’s table and Jevon’s equation?

Explain supply and demand concept that is different than Smith, Ricardo, and Marx

Capital

Léon Walras

Why do the marginalists need general equilibrium?

How many sides there are in Walras’ system?

Why does the system need stability?

(1000 words, no plagiarized materials or ideas!!!)

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