This man showed that the conclusions of value theory can be demonstrated without quantifyingutility in a book that popularized the difference income and the substitution effect have on consumerchoice.
This man showed that the conclusions of value theory can be demonstrated without quantifyingutility in a book that popularized the difference income and the substitution effect have on consumerchoice. This author of Value and Capital created a model he derived from Keynes of the relationshipbetween economic output and interest rates. With a Hungarian-born man, this creator of the (*)IS/LM model devised a test for government policies that relies on the ability of gainers to compensatelosers to define efficiency. A quantity that minimizes cost of a bundle of goods while keeping utilityconstant is also named for this man. For 10 points, name this British economist whose "compensated" formof demand is contrasted with Marshallian demand.
This man showed that the conclusions of value theory can be demonstrated without quantifyingutility in a book that popularized the difference income and the substitution effect have on consumerchoice.
John Richard Hicks