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1. Suppose that Mr. John has the following Cobb-Douglas utility function U = 6X^2/3y^1/3 the market price of X and Y commodity are $1 and $2, respe
What is a Market? Markets A geographically stated area where buyers and sellers interact or communicate to decide the price of a product or a series of products. Marke
the short run can be defined as any period of time
explain how a perfact market responds to changes in consumer demand?
I don''t really understand how scitovsky contour is formed.
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edge worthmodel
What is the theory of Second Best? Prove the theorem with the help of a diagram.
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