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1. Suppose the wage rate is w = 1. An agent is working 6 hours per day and consumes 5 units of goods per day. Suppose that the agent claims to be indifferent between his current situation or working one more hour in exchange for two additional units of consumption. Is this agent maximizing is utility? Why? Should he be working more hours? or fewer?
why is the point outside the production possibility curve(PPC)called unttianable
advantage dis advantage of pure monopoly
1) What are the most important challenges that economists try to address? (2) What is the role of government in a market based economy? (3) Who are the main economic players
what is the theory of second best ? prove the theorem with the help of a diagram .
Policies of Educational Financing - Earmarking Earmarking refers to setting aside and using the funds generated by a special cess/tax for the particular purpose for which it i
Marketing Economies: These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities
Just in Time Scheduling - JIT JIT techniques are being widely adopted by operations managers in manufacturing companies in the West. JIT ideas have not only had a profound im
What is a natural monopoly Define natural monopoly as a situation where the advantages of scale a fixed costs are so high that it is impossible to fully exploit them. MC and AC
what makes it differ from other market structures
prove that marginal utility of x=the price of commodity x.
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