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What simplifying assumptions does the traditional macroeconomic model make (in addition to those made in the NIPA)? The simplifying assumptions are: 1) The household and i
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
what are fundamentals of welfare economics?
Insurance - Risk averse are willing to pay to keep away from risk. - If cost of insurance equals expected loss, risk averse people will buy sufficient insurance to totally r
is south african economic system more allocative efficient?
Prove that utility approach and indifference curve yield the same consumer equilibrium
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Socio Economic conditions of country also affect the sales forecasting. They may include total national income per capita income standard of living of the masses, education, inflat
what is the importance of law of supply
how can draw the table and diagram of production function function with one veriable
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