Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Explain about the duality between direct and indirect utility.
Duality between Direct and Indirect Utility:
While seen how one can recover an indirect utility function by observed demand functions through solving the integerability equations. Now see how to resolve for the direct utility function.
The answer demonstrates quite nicely the duality between direct and indirect utility functions. This is most convenient to define the computations in terms of the normalized indirect utility function, there prices divided by income therefore expenditure is identically one. Hence the normalized indirect utility function is specified by
v(p) = maxx u(x)
that is px = 1
Explain the difference between elastic and fixed supply
What is elasticity of supply
what are the limitations of economies of scale?
related documents, photos,paper for permission from court etc.
Token Privatisation: This implies the sale of 5 per cent or 10 per cent shares of a profit-making public sector enterprise in the market with the objective of obtaining revenue t
Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery
Ask question #what is an indifference curveMinimum 100 words accepted#
The outer shape of a football can be described via the following equation Using Matlab, plot the outer shape of a football in red or orange using a line widt
Market equilibrium happens where supply equals demand (supply curve intersects demand curve). An equilibrium implies that there is no force that will cause further changes in pri
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd