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
how to make attractive assignment on theory of supply
The efficiency loss of a tax is the tax revenue collected by government minus the value of the public goods financed through the tax. Why is this false?
what is the influence of an increase of migrants on the market supply labour
how a firm will choose its optimal inputs, isocosts and isoquants explanation
in economics what is cobb douglas theory?
International trade: International trade refers to the exchange of goods and services between countries. Goods sold to other countries are referred to as exports and goods bou
critical evaluation of marginal analysis
Use of Income elasticity of demand: Income elasticity of demand on the other hand, has the following uses (i) Income elasticity of demand shows how the pattern of consumer de
Fiscal Policy Fiscal policy refers to the management of government spending and tax policies to influence total desired spending so as to achieve the desired level of economic
Attitude towards Risk: Let's assume the following: The utility function • has the single argument "wealth" measured in monetary units, • is strictly increasing, and
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