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price falls and demand is elstic
Prove that the utility approach and the indifference curve approach yield the same consumer equilibrium.
What simplifying assumptions does the traditional macroeconomic model make (in addition to those made in the NIPA)? The simplifying assumptions are: 1) The household and i
Discuss how the opportunity cost principle influence a supplier''s decision to supply labour
1. Suppose that Mr. John has the following Cobb-Douglas utility function U = 6X^2/3y^1/3 the market price of X and Y commodity are $1 and $2, respe
What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
What population information is needed by local authorities to provide the right number of primary and secondary school places? How would such information affect the plans of the lo
do you agree that according to econmy theory a business will always close if its total reveneu cover total costs
marginal conditions of pareto efficeincy
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