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Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages pai
THEORY OF DEMAND: The consumer behaviour under indifferencecurve approach where it is assumed that the consumer possesses a utilityfunction. The next most important theory th
The minimum wage was increased in 1996 amid cries by various economists that it would cause unemployment. Critics shown that the last time the minimum wage went up the si
if a commodity has limited demand , should economist say that we still have a scarcity ?
Ben prefers the mixed consumption basket x+y to either 2x alone or 2y alone. But as between the latter baskets, he would rather have the 2x. Do the fact stated indicates the axiom
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Explain the Human Development Index Introduced by the UN in 1990, the index take into account not only the goods and services formed but also the ability of a population to use
If the MU of the 1st unit consumed = 75 utils, and the TU of consuming 2 units is 130 utils, what is the marginal utility of the second unit?
FUTURE DIRECTIONS: It is often said that the difficult things are the beautiful things, and if they are as vital for healthy national development as an economy, society and po
what is histogram?
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