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using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically
John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
MRP systems - basic inputs It has been estimated that in the USA where MRP was originated and developed by Oliver Wight and George Plossl (1985), virtually all Fortune 500 ma
Johnson Farms owns valuable farm land that allows it to produce wheat at a lower cost than its competitors. The company reports large profits each year on its accounting statements
application of indifference curve analysis to the problem of exchange
The economic model forecasting involves estimating several simultaneous equations which are generally behavioural equation mathematical identities and market clearing equations. T
concept of narrowness in pure economics
llustrate and explain the changing demand gor big Mac using the indifference curves and budget line
the sources of market failure
explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
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