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THEORY OF CONSUMER SURPLUS: We discuss the basic concept of consumer surplus and its derivation. A consumer normally pays less for a commodity than the maximum amount that she
Lovers of classical music persuade Congress to impose a price ceiling of $40 per concert ticket.
Mathematical Presentation of Utility maximisation: Consumer's objective is to maximise her utility by solving UMP. To solve UMP, we set the Lagrange function of the correspond
What is the difference between indifference curve and isoquants? An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Ind
Suppose the total demand for wheat and the total supply of wheat per month in a market are as follows: a. What will be the market or equilibrium price? What is the equilibrium q
veblen effect
what are fundamentals of welfare economics?
Shares: Financial assets that represent ownership of a small proportion of total equity (or net wealth) of a corporation. Shares can be sold and bought on a stock market. Slaver
contemporary issues in microeconomics in nigeria
Devil's Advocate Explicit role undertaken by a group member who actively questions and challenges the group's ideas, procedure, and decisions. Such active questioning helps de
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