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What is methodological economics? how its significance, Describe use of methodological economics...
Economic profit and Economic loss: Economic profit is the excess if total revenue over total cost when the latter includes both explicit and implicit costs. It is the type o
how can a consumer get maximum Equlbrim
why does economist agree or disagree?
arguments in favour and against of Theory of Profit Maximization
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
Double Jeopardy A condition where an entrepreneur's main source of income and net worth depend on the entrepreneur's organization.
prove that the utility approach and the indifference curve approach yield the same consumer equilibrium
quasi rent theory
Suppose taht two people, Michell andJames each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle
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