Consumer behaviour, discuss how economic theory of marginal utility explain...

discuss how economic theory of marginal utility explains the optimum pattern of consumption for an individual consumer

Critically examine recent development in demand theory,

Slutsky theorem -mathematical presentation, Slutsky Theorem - Mathematical ...

Slutsky Theorem - Mathematical Presentation: We already know from the first order conditions of utility Maximisation that,   where D ij is the co-factor of the ith ro

Determine the amount of composite commodities, a)  Joan's utility function ...

a)  Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20

Cardinal theory - consumer choice concerning utility, Cardinal Theory: ...

Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but

Supply and demand, Suppose scientists discover that eating soybeans prevent...

Suppose scientists discover that eating soybeans prevents cancer and heart disease

Reasons for the existence of external economies of scale, Question : (a...

Question : (a) Using a simple example, diffrence between inter - industry trade and intra - industry trade? (b) Illustrate the reasons for the existence of external economie

Characteristics of economic infrastructure, CHARACTERISTICS OF ECONOMIC INF...

CHARACTERISTICS OF ECONOMIC INFRASTRUCTURE: Natural monopoly is the situation where the provision of a good or a service has economies of scale, which are realised most when a

Consumer equullibruim, income=100 price of x=5 price of x2=10 find consumer...

income=100 price of x=5 price of x2=10 find consumer equilibrium with diagram

How it can be possible for increases in the minimum wage, The minimum wage ...

The minimum wage was increased in 1996 amid cries by various economists that it would cause unemployment. Critics shown that the last time the minimum wage went up the si