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Aggregate household indebtedness:
This is the purchasing power of the sum of money outstanding that households have borrowed and are currently obligated to repay. If households are in debt to the degree that part of their current incomes are committed to instalment payments on previous purchases, they may well be obliged to reduce current consumption.
#question.hif indirect utility function is givenhow to derive the demand function .
Explain the Kuhn-Tucker Theorem in economics. Kuhn-Tucker Theorem: Assume that x solves the inequality constrained optimization problem and also satisfies the constrained qu
Theory of revenue
composite supply v/s joint supply
Households: The fundamental unit of individual economic behaviour. Households offer labour supply to labour market, make consumer purchases,earn income (from employment and other s
why does gap between the ATC curve and the AVC curve decreases as the level of output increases
Q. Explain Labour Intensity? Labour Intensity: Ratio of labour effort expended, compared to total on-the-job compensated labour time. A higher ratio of labour intensity reflect
When there is a positive expected rate of inflation (i.e., an expected and sustained increase in the levels of all prices), the Benefit Cost Ratio of a proposed project will take o
exams?
Determine the Slutsky Equation. Income-Substitution Effect: The Slutsky Equation A fall into the price of a good may have two sorts of consequences: substitution effect, whe
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