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Budget Constraints * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget
Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic agents about the future values of macroeconomic varia
ADVANTAGES AND DIS ADVANTAGES OF MONOPSONY
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
Why narrowness of definition of a commodity may influence price elasticity of demand
consumers oriented application
What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss
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schedules for cost
do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
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