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Budget Constraints
* The Budget Line
- The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income.
- Let F equal the amount of food which is purchased, and C is amount of clothing.
- Price of food = Pf and price of clothing = Pc
- Pf F is the amount of money spent on food, and PcC is amount of money spent on clothing.
* The budget line then can be given by:
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
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The Bandwagon Effect - This is desire to be in style, to have a commodity because almost everyone else has it, or to indulge in it. - This is major objective of marketing an
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Limitations of the Services Sector: The services sector in India, as at present, suffers from low productivity and low quality in spite of fairly large investment in technolog
The demand functions for two related commodities are expressed as follows Q 1 = (12P 2 3/4 ) / (P 1 1/2 ) Q 2 = (24P 1 2 ) / (P 2 3/5 ) Where Q 1 and Q 2 are d
Elasticity of Price Expectations (epe)
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Hi, My Econ prof gives out a sample exam two days before we take the real exam. If I were to submit the sample exam to you, how long would it take to get the answers back?
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