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Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
what is the application of consumer surplus
In the short run, the size of the plant is fixed whereas in the long run a firm can adjust its plant size. One of the choices in the long run will be the short run plant size. That
characteristic of duopoly
Ask question #Minintroduction to recent development in demand theory
Distinguish between interventionist and market-led strategies of development. Explanation of interventionist strategy; heavy government involvement in the planning of output, p
example of marginal opportunity cost
Composition of Trade: It is indicative of the structure and level of development of an economy. For instance, most of the UDCs depend for their export earnings on a few primar
consumer choice involving risk
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
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