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a) Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20
What are the determinants of income elasticity of demand? There are three determinants of income elasticity of demand. These are: Degree of necessity of a good: In a developed
Cyclical Fluctuations: Consider a situation where the value of money above trend indicates an unexpectedly high level of money in the recent past. The model predicts that this
"price makers" never want to produce in the inelastic part of their demand curve why
to what extent does Marginal revenue productivity theory explain wage determination in Zimbabwe
The total demand consists of: 1. New owner demand and 2.A replacement demand The replacement demand tends to grow with the in the total stock with the consumers. Once a pe
What are the problems of interest for several reasons in cost minimization? Cost Minimization: A significant implication of the firm choosing a profit-maximizing producti
chemistry assignments , obtain an expression for the allowed rotational energies of N 2 molecules. The equilibrium bond length of the N 2 molecules is 109.8 pm .
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what is discounting principle?
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