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Explain the first-order condition of sufficiency of consumer.
Sufficiency of Consumer’s First-Order Conditions
This first-order condition is merely essential conditions for a local optimum. Nonetheless, for the particular problem at hand, such required first-order conditions are actually sufficient for a global optimum while a utility function is quasi-concave.
The prevention of major swings in economic activity can be handled most easily by the
3, chapter 12
Government Policy Business Cycle Business cycles create instability in the economy. The period of boom or rising business activities is characterised by increase in output, emp
Question : (a) Suppose Firm A is a perfectly competitive firm producing good X and faces the following average revenue and average cost Average Revenue: P = 10 Average Co
A 1500 word research paper on the economic, social or environmental effects of the widespread use of robots in factories (this meets Learning Outcome 4)
how to solve min (x+y/2, 2y+3x, 3x)
consumer surplus fot tea
illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination
What is the purpose of the IMF and why might the IMF be called the “lender of last resort”? Discuss how three of the tools they use for establishing economic stability in a country
Suppose that two wage regressions are estimated for native and white workers: Wn = 5.0 + 0.10S Ww = 6.0 + 0.14S Pick a reasonable average level of schooling for white and Native wo
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