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Gains from International Trade: It leads to increased total world production of goods and services. International trade based on comparative cost advantage allows countries to
when total production fall what,s the status of average product and marginal product
using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
u=2x^2+3y^2 hence income=310 birr and price=3 birr calculate quntity of x and y the optimize&minmize utilityfor the given income
Problem 1: i) Differentiate between the short and the long run. ii) How is production characterised the short run? Explain the fully using numerical and diagrammatic illustr
show that the necessary and sufficient conditions for consumer equilibrium under both cardinal and ordinal utility theories are identical .
discuss the law of variable proportion with the help of isoquants
Allocated Stock and Safety Stock Allocated stock A category of stock which ensures that current stock is set aside and not issued under the normal procedure. Safet
Labor Total Output 1 30 2 50 3 60 4 75 5 80 a) If the price of the firm’s output is $12 per unit and the wage rate is $100 per worker, how many workers should the firm choose to
determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}
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