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how a capitalist system solves the three fundamental economic problems
Mathematical Presentation of Utility maximisation: Consumer's objective is to maximise her utility by solving UMP. To solve UMP, we set the Lagrange function of the correspond
Why does a price index based on constant weights tend to overstate inflation in periods after the base year when the price of one good is rising quickly compared to other goods?
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STETE THE THEORIES OF DETERMINATION OF RENT
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