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Given the following table MUx MUx/Px Qty MUy MUy/Py 80 40 1 68 17 52 26 2 32 8 20 10 3 28 7 16 8 4 24 6 8 4 5 20 5
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
Briefly discuss the components of macroeconomics system with suitable explanation
using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically
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The market for labor can be studied use a supply and demand framework. The demand for labor is from employers who use labor to produce goods and services. The supply of labor is
Explain why a perfectly competitive firm does not expand its sales without limit if its horizontal demand curve indicates that it can sell as much as it desires at the current mark
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