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characteristics of microeconomics
Problem 1: i) How might unemployment arise? ii) Critically explain how fiscal policy can be used to reduce the unemployment rate in an economy. iii) ‘'Inflation always
average-marginal relationship
What types of questions would concern microeconomics, versus macroeconomics? Microeconomics concerns itself with decision-making of individual consumers, firms and other organ
What is the theory of second best? Prove the theorem with the help of a diagram
Preference to Non-debt Creating Capital Flows: The most important element of strategy has been the paradigm shift in the attitude towards inflow of capital from abroad. Capit
how to control principal agent
As a consumer increases the consumption of any one commodity, marginal utility of the variable commodity must eventually decline."Illustrate the statement. Illustrate law of dem
What are the advantages of leaving the allocation of a countrys resources to the price mechanism? Ans) The main conditions needed are: 1. Either a finite number of agents or pr
Illustrate and explain the changing demand for big mac using the indifference curve and budget line.
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