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The Cost Minimizing Input Choice - Assumptions Two Inputs: Labor (L) & capital (K) Price of labor: wage rate (w) The capital price - R = depreciation ra
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draw a production possibility frontier task using the graph and value and identity the pareto efficent and inefficient point and the marginal oppotunity cost of x for each point of
Determine whether the ff is counted as part of gdp which of the ff statement are included or excluded 1.1A monthly cheque received by an economic stu
Two people are engaged in a joint project. If each person i puts in the effort xi, the outcome of the project is worth f(x1, x2). Each person’s effort level xi is a number between
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DISCUSS THE HICKSIAN & SLUTSKIAN APPROACH TO CONSUMER BEHAVIOR WHERE THERE IS CHANGE IN PRICE OF ONE GOOD GIVEN TWO GOODS
Directions: You should legibly handwrite or type the answers to the following questions on a separate sheet of paper. These must be submitted in class (not via email unless you hav
explain the theory of consumer behavior from the utility perspective
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