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Explain about the optimal consumption rule.
The optimal consumption rule:
While a consumer maximizes utility, the marginal utility per dollar spent should be similar for all goods and services into the consumption bundle.
MUC/PC = MUP/PP
What are the two types of government cash transfer programs in the U.S., used to help households achieve income security? Provide examples of each. The two kinds of government
Why Average Revenue= Marginal Revenue
QUALITY OF EMPLOYMENT : Productivity of Employment In a poor country like India being employed does not by itself necessarily ensure a decent level of living. In 1999-2000 th
Write the formulas to show the reactants and products for the following reactions. Assume that solutions are aqueous unless otherwise indicated. Represent substances in solutions a
using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically
Explainbainlimitpricetheory
Average product of a factor is the total output produced per unit of the factor employed thus, Average product = total product / number of units of factor employed If Q stand
Consider a market that is served by a single-price monopolist with marginal cost given by MC = $100 + Q. The market demand is given by P = $800 – 3Q. Determine the following: the f
Do not submit more than 1 file in the Canvas submission link. A few years ago peanut farmers in India experienced a super-bumper crop due to favorable weather conditions. Initially
what is the langrangian function
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