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Indirect Utility Functions: Let qi denotes commodity i and pi is the price of that commodity. Let y denotes money income of the consumer. Suppose vi = pi/y. The budget constra
Q. Definition of labour force? Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force incl
how microeconomic issues maybe represented using production posibility curve
what is limitation of inherent
the basic circular flow model suggests that...
1) Lynne's income is £2, 000 and she is risk averse. The probability of someone slipping on her stairs is 1/8. If this happens, she will be sued for £1, 000 and will have to pay th
A monopolist''s demand curve is P=100-2q. find his MR function. at what price is MR zero
1) Investments 1A) What are the two components to total return ? What does expected value measure? What does standard deviation measure? How can each result be
In an essay of at least four well-developed paragraphs, discuss U.S. economic policy. Be sure to include the following information in your essay: Compare and contrast the economi
Shor tage A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price
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