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Concept of Preference, Utility Function: Concept of Preference, Utility Function and Indifference Curve Consumer preference ('R') specified by the above axioms can be represe
Suppose there is a simultaneous increase in the demand for diamonds and increase in the supply of diamonds. Which of the following will occur as a result of these simultaneous even
Determine about the Expected inflation Note that it is changes in prices during 2008 which matter for the high real interest rate (the time period when your deposit is earning
What are the crisis affect the economies This crisis would affect the UK in 3 major ways. First the UK would be unable to sell its exports to these economies if they are hea
Assume the marginal propensity to consume = .8, and government purchases increase by $.2 Trillion. 1. Potentially, how much will real GDP increase in the short-run after the inc
nature, development and function of money.
what is the role of advertising in baumol''s model?
Discuss whether high indirect taxes are best way to discourage smoking
Application of Theory of Consumer Behavior As already discussed earlier, the theory is an important tool to interpret and analyse demand curves. Apart from its usefulness as a
why is international trade important for South Africa?
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