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Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200
when total production fall what,s the status of average product and marginal product
national income and what is used to measure it
social welfare ordinal
GOVERNMENT FINANCE: UNION AND STATES: The fiscal position of the Governments - both Centre and States - has been under stress since the mid-1980s. The stress stems from the i
The Production Possibilities Frontier (PPF) The PPF curve exhibits the probable combinations of goods and services accessible to an economy, given that all productive resources
Dividends:Several companies pay a cash dividend (annually orquarterly) to the owners of its shares. This is an enticement to investors to buy that company's shares and signifies a
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
Monopoly: Monopoly is a market structure in which there is a single firm producing a commodity or providing a service that has no close substitutes. As the sole supplier to it
Define Amagat law of partial volume, Amagat law of partial volume The total volume of a mixture of non reacting gases at constant temperature & pressure is equal to sum of indiv
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