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1 Differentiate between a firm and a market. 2 Graphically illustrate (i.e. draw) and explain the relationship between the market demand curve and the individual firm's demand c
Marginal rate of technical substitution in the theory of production is similar to the concept of marginal rate of substituent to in the indifference curve analysis of consumer dema
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
Consider an infinitely repeated prisoner's dilemma game by two players. The resultant payoffs at each stage by the actions of two players are given below in the table (payoffs are
Q. What is Debt Burden? Debt Burden:Real economic importance of a debt relies on interest rate that should be paid on debt and on total income of consumer or business which und
Question 1: a. What is the supposed rationale for subsidising higher education in various developing countries? b. Do you think there is a legitimate rationale to the abov
Why Have These Economies Converged? By and large economies which have converged are those which belong to OECD: the Organization for Economic Cooperation and Development that w
Energies of the diametric molecules of a gas, chemistry assignments The analysis basis for treating these different types of motion can be seen by describing the motion of a di
The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
explain nature of microeconomic
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