Four sets of equations, including two that describe the function of individual households, comprise the model named for this man and Cassel. This man theorized that in perfect competition, profits would approximate zero, because prices would approximate costs. Each agent calculates his demand for the good at every possible price and submits this to an auctioneer in the auction named for this man. The law named for this man suggests that if all other markets in a system are in equilibrium, the remaining market must also be in equilibrium; that observation underpins his most famous theory, which was improved upon by Arrow and Debreu. For 10 points, name this French author of Elements of Pure Economics, the founder of 
Four sets of equations, including two that describe the function of individual households, comprise the model named for this man and Cassel. This man theorized that in perfect competition, profits would approximate zero, because prices would approximate costs. Each agent calculates his demand for the good at every possible price and submits this to an auctioneer in the auction named for this man. The law named for this man suggests that if all other markets in a system are in equilibrium, the remaining market must also be in equilibrium; that observation underpins his most famous theory, which was improved upon by Arrow and Debreu. For 10 points, name this French author of Elements of Pure Economics, the founder of General Equilibrium Theory.
Four sets of equations, including two that describe the function of individual households, comprise the model named for this man and Cassel.
Leon Walras