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consumer equilibrium by indiffrence curve approach
Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
Prove that the utility approach and the indifference curve approach yield the same consumer equilibrium.
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
Determine the Cost Efficient Levels of Emissions Reduction Two firms produce a pollutant called Q. The total cost of reducing emissions of Q are as follows for Firm 1 and Fir
A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis wer
IN THE LABORATORY OXYGEN IS PRODUCED BY HEATING POTASSIUM CHLORATE ACCORDING TO THE EQUATION 2KCLO3-2KCL+3O2. WHEN 298g OF KCLO3 IS HEATED IT GAVE 181.2g OF OXYGEN. GIVEN THAT 32g
During its current tax year (year one) a pharmaceutical company purchased a mixing tank that had a fair market price of $120,000. It replaced the an older, smaller mixing tank that
Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
How does a
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