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Explain the axioms of completeness, transitivity and non-satiation using appropriate examples.
how slustky equation provides neat analytical expression for substitution and income effect?
given short run total cost curve :10q^2+4q=100 and short run marginal cost MC=20q+4 and market demand Q=100-p what''s the equation of the short run supply curve?
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who is a rational producer?
Explain the key assumptions and desired properties commonly used economics. Economists generally make all or some of the given key assumptions and a condition while they study
Risk Averse: - A person who prefers certain given income to risky income with same expected value. - A person is careful risk averse if they have a diminishing marginal ut
what is the reason behind studing this topic ?
What are the uses of elasticity to the private sector
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