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!
Illustrate about the elasticity of substitution.
The Elasticity of Substitution:
The technical substitution’s marginal rate measures the slope of an isoquant. As well the elasticity of substitution measures the curvature of an isoquant. More exactly, the elasticity of substitution measures the percentage change within the factor ratio divided through the percentage change into the MRTS, along with output being held fixed. When we let ?(x2/x1) be the change into the factor ratio and ?MRTS be the change within the technical rate of substitution, it can express as follows:
σ = ((?(x2/x1))/(x2/x1))/(?MRTS/MRTS)
Is economic development is based on goverment Many governments--mainly unelected governments-aren't that interested in economic development. Giving valuable industrial franchis
What is ceteris Paribus? Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equa
Axioms: Revealed preference theory is based on the axioms listed below. • Consumer will spend all her income on goods. The consumer equilibrium always remains on the budg
if you were making the pricing decision for the gasoline company, would you cut, raise or leae the price unchanged
According to the Linder theory ,trade will occur in goods that have overlapping demand. With aid of a graph ,illustrate this theory and its implications
What is the difference between 'scarcity' and 'shortage'? 'Scarcity' and 'shortage' have dissimilar definitions. In reality, when most of the goods and resources are scarce go
Rule of Thumb Method Sir Ashby had been requested in 1960 by the Government of Nigeria to submit a report on manpower development in Nigeria. In doing so, in the absence of re
indiffference curve
3. You plan to sell a sunglasses clip that you can attach to a car''s sun visor. You can purchase the goods from a wholesaler at $2 a piece and there is an overhead cost of $500 pe
Which of the following is a free good? Fresh water, forests in the northwestern United States, the advice of economists, or none of the above?
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: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd