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Explain about the optimal consumption rule. The optimal consumption rule: While a consumer maximizes utility, the marginal utility per dollar spent should be similar for all
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
Given the following table MUx MUx/Px Qty MUy MUy/Py 80 40 1 68 17 52 26 2 32 8 20 10 3 28 7 16 8 4 24 6 8 4 5 20 5
What factors shift the Aggregate demand curve to right and what factors shift the AD curve to left? AD shifts to the right when any component of AD enhances autonomously; e.g
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
firm''s product sells for Rs.200 per unit in a highly competitive market. The firm produces output using capital (which it rents at Rs.7500 per hour) and labor (which is paid a wag
Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes the principle's expected profits from his business]. There a
Managers: Top directors and managers of larger companies who are assigned the task of organizing disciplining workers, initiating production and accounting to shareholders for perf
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