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Marginal Utility and Indifference Curve - If the consumption of a product moves along an indifference curve, additional utility derived from the increase in consumption of sing
Normal profit: Normal profit is when total revenue is exactly equal to total cost when the latter includes both explicit costs. It is the type of profit when made by firms in
defin giffen goods?
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
law of diminishing marginal utility its assumptions, limitation, and its practical importance
What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of
how to differentiate the exeptional demand and exceptional supply?
a) Provide a detailed valuation of an equity investment decision in the current economic climate. Your briefing should include: i) A review of the 'top-down' analysis that led
what are the types of microeconomic analysis?
How might a “perfect” macro equilibrium be affected by (a) a stock market crash; (b) the death of a president; (c) a recession in Canada; (d) a spike in oil prices?
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