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The neo-classical view
The neo-classical view is that market forces are the best directors of the economy. Positive attempts by the government it is argued inevitably make things worse. The correct posture for fiscal policy, therefore, is simply to minimize the role of government, thus leaving the largest proportion of the economy possible to be run by the market forces.
is the sales maximization applicable
Q. What is Right Angled Isoquant? This presumes zero substitutability of factors of production. There is just one method of producing any one commodity. In this case, isoquant
What is economics of information
Utility Analysis or Cardinal Approach: The Cardinal Approach to the theory of consumer behavior is based upon the concept of utility. It assumes that utility is capable of meas
TYPES OF BUDGETS 1. Deficit budget If the proposed expenditure is greater than the planned revenue from taxation and miscellaneous receipts, this is a budget defic
Q. Explain about Managerial Economies? Large scale production makes possible the division of managerial functions. So there exists a production manager, a finance manager, asal
Producers Equilibrium or Optimal Combination of Inputs The analysis of production function has demonstrated that alternative combinations of factors of production that are tech
In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: where p is the price for one cone of ice cream. All ice cream pr
A firm hires two risk-neutral workers to assemble bicycles and pays $20 for each assembly.Charlie's marginal cost of allocating effort (measured in dollars) to the production proce
You're standing at three light switches at the bottom of stairs to the attic. Each one corresponds to one of three lights in the attic, but you cannot see the lights from where you
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