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Risk Loving
- A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value.
Island Economy: Consider an economy as a sea with islands of local markets. Each household produces goods and sells them on one and only one of the arrays of these markets. Go
how can draw the table and diagram of production function function with one veriable
graphing a isoquant
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}
Circular Flow of Income: The diagram shows Real Flow (goods and services) and Monetary Flow (Income and expenditure). The bottom pair of arrows depicts the goods market.
how to solve Min (x+y/2, 2y+x, 3x)
discuss the term of price mechanism,give examples to elaborate the concept clearly
Why does a monopoly have no supply curve? A supply curve is a curve that shows the quantity supplied at dissimilar prices, as a monopoly sets the price and the quantity togeth
if tc is 200 what will be marginal cost?
WHAT IS OPPORTUNITY COST
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