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consumer equilibrium by indiffrence curve approach
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
using demand and supply curves explain how shortage and surplus are created
what is the mass of a body when it is taken to the moon
explain engineering cost
(a) Explain why the Pareto criterion does not provide a complete ordering of the ordinal utility space (b) The competitive equilibrium is the only allocation where the gain
n..
What is the theory of second best
1).Explain a coordination failure. Using the Prisoner's Dilemma example above, discuss coordination failure. 2). What's a Market Failure? Please define the circumstances under w
define law of demand
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