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why diminish MRS?
The "Battle of Sexes" is a famous game. The story is that a couple tries to decide what to do on a Friday evening. The girl prefers to go to an Opera and the guy prefers to go to t
Students at XSU cannot register for english classes. Is this a situation of shortage or surplus of classes? Explain. Also would you expect market forces to do to tuition?
why value of marginal product is negatively sloped
discuss how the price mechanism allocate resources in a free market system
unique product
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
What factors shift the Aggregate demand curve to right and what factors shift the AD curve to left? AD shifts to the right when any component of AD enhances autonomously; e.g
use the concept of the income elasticity of demand to explain the difference necessities, luxuries and inferior goods
If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $
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