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Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
Working Capital: A business requires a certain revolving fund of finance to pay for regular purchases of initial labour, raw materials and other inputs to production. Working capit
Solve equation P=200-Qs and Qs=4.5p +5
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EXCHANGE RATE SYSTEM: It is interesting to look at a case study of a country like India for several reasons: first it is a small country in terms of imports and exports as a p
E-goods are returning to price levels which we thought they had left behind, again the inevitable price elasticity. Why is it so certain that price elasticity will cause those pric
how does utility figure in the analysis of consumer demand
Define and explain the following economic terms: Economics, Microeconomics & Macroeconomics Positive vs. Normative Economics Law of Diminishing Marginal Utility Opport
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities
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