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The Epic Interactive Encyclopedia 1998
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Epic Interactive Encyclopedia, The - 1998 Edition (1998)(Epic Marketing).iso
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Walras,_Leon
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1992-09-01
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1834-1910. French economist. In his Elements
d'economie politique pure 1874-77 he
attempted to develop a unified model for
general equilibrium theory (a hypothetical
situation in which demand equals supply in
all markets). He also originated the theory
of diminishing marginal utility of a good
(the increased value to a person of consuming
more of a product).