Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The Budget Line The line BB gives the persons budget constraint. It is described by the linear equation
c + wl = w;
which can be rewritten as
c = w - wl:
The budget line gives all the consumption-leisure combinations that the person can potentially enjoy with his one unit of time.1 The slope of the budget constraint is given by (the negative of) the wage rate, w. Think about this as representing the relative price of leisure in terms of consumption: if the person desires to enjoy an extra unit of leisure he must sacrifice w in terms of consumption. If the person worked all of his time, so that leisure was zero, then his consumption would be w. This is the vertical intercept of the line. If he did not work, then his leisure would equal one, implying l = 1. He would of course have no consumption, so c = 0. This is the horizontal intercept.
what is economic model and role of assumptions in it.
how does it work ? Say it to me !
Problem 1: i) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade? ii) Explain the different types
What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th
explain the nature and scope of economics.
How to solve general equilibrium in pure exchange economy with 2 consumer and 3 commodities
Unemployment Rate A measure of labor force utilization the unemployment rate is equal to the number of people which is unemployed as a percentage of the total labor force.
Economic Development The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word
User Cost of Capital = Economic Depreciation + (Interest Rate)(Value of Capital) - Example An Airline buys Boeing 737 for $150 million with the expected life of 30
Extracellular digestion is that in which food breaking into utile molecules that can be internalized by the cell is completed in the extracellular space, i.e., outside the cell. In
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd