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Illustrate the content in the rational consumer?
Content in the rational consumer:
a. How to spend income onto goods and services?
b. Why maximizing usefulness?
c. Why the principle of diminishing marginal utility applies to the consumption of most goods and services?
d. How to utilize marginal analysis to determine the optimal consumption bundle?
e. How decisions by individual consumers provide rise to the market demand curve
f. Income and substitution consequences
g. For a tax imposed while demand or supply, or both, is inelastic will cause a comparatively small reduce in quantity transacted and a small deadweight loss.
Consider a two-period economy with a single commodity (say leisure): x1 is the con- sumption of leisure in period 1, and x2 is the consumption of leisure in period 2. When Peter ev
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Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their
A firm is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do?
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Hi, My Econ prof gives out a sample exam two days before we take the real exam. If I were to submit the sample exam to you, how long would it take to get the answers back?
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