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!
Marginal Utility and Indifference Curve
- If the consumption of a product moves along an indifference curve, additional utility derived from the increase in consumption of single good, food (F), should balance the loss of utility from decrease in consumption in other good, clothing (C).
* Formally:
* Rearranging:
Because:
* When the consumers maximize satisfaction the:
* Since the MRS is also equal to the ratio of the marginal utilities of consuming F and C, it follows: * Which gives equation for the utility maximization? * Total utility is maximized when budget is allocated such that the marginal utility per dollar of expenditure is same for every good.
* This can be referred to as equal marginal principle.
if the inverse demand curve is p=120-Qand the marginal cost is constant at 10, how does charging the monopoly a specific tax of 10 per unit affect the monopoly optimum and the welf
The Nature of Policy-Making : It follows that recommending policy must itself be a subjective exercise. The effects of particular-policies at a particular historical juncture
If the Bank of England wanted to discourage investment spending and reduce aggregate demand, it could?
Determinants of Short Run Cost - The relationship among the production function and cost can be exemplified by either increasing returns and cost or decreasing returns and cost
can average labor productivity fall even though total output is rising
what are the limitations of economies of scale?
What is the distinguishing characteristic of institutions in the public purpose sphere? The distinguishing characteristic of institutions in the public purpose sphere is that t
Describe stabilisation policies as by the International Monetary Fund (IMF). Define stabilisation policies as basically a list of demands set forward by the IMF to a debtor nat
FUTURE DIRECTIONS: It is often said that the difficult things are the beautiful things, and if they are as vital for healthy national development as an economy, society and po
1. Select a data series that you wish to forecast. Make sure that it has some importance to you relative to business, future occupation or other special interest. Obtain monthly or
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd