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When Alex's income increased from $3,000 to $5,000, he increased his consumption of bagels from 4 to 8 a month and decreased his consumption of donuts from 12 to 6 a month. Calcula
Accounting profit equals revenue minus all explicit costs, and economic. One profit is defined it should not be difficult to measure the profit of a firm for a given period. But tw
Dynamic model
Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv
a. Generally, there will be a difference between the CV and the EV. Why? b. The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it
What types of external economies generates the output which reduces the costs of the firms in it? The chief example of external economies provided by marshal are (i) improved
Sita expects her future earnings to be worth Rs 100. If she falls ill, her expected future earning will be Rs 25, There is a belief that she may fall ill 2 with probability of -3
Explain about the money metric utility functions. The Money Metric Utility Functions: It is a nice construction including the expenditure function which comes up into a vari
bains limit price
evaluate each in term of strength and weakness relative to their applicability to asian economy situation or reality ,2. philippines economy situation or reality
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