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Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200
1. Suppose that there is a credit market imperfection because of asymmetric information. In the economy, there are N consumers. A fraction b of consumers consists of lenders, who e
There are two individuals in town, one is high risk and the other is low risk.1 The probabilities of having an accident for the low risk individual and high risk individual are p
what are some of recent development in theory of demand
Why do actinides exhibit o.s equal to the sum of the valence electrons.
What are the advantages of trade surplus
explain main features of short run engineering cost theory
PEST analysis Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations a
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