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using the marginal utility approach discuss how economic theory explains the optimum pattern of consumption for an individual consumer
Q1.Define law of demand. Distinguish between individual demand and market demand for Hitachi air conditioners. List the determinants of demand for the same.
FIXED EXCHANGE RATE SYSTEM: National currencies are generally acceptable within the geographical boundaries of a country. As such, trade between countries typically involves
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
You are considering whether or not to go to graduate school. Well… there are many things to consider, of course, such as the type of job you would thus get, the opportunity to live
What is consumer surplus? What is its significance and what causes it to change?
what is marginal costs?
construct your own version of a production possibility curve and use it to explain scarcity, opportunity cost and choice
Marginal rate of technical substitution in the theory of production is similar to the concept of marginal rate of substituent to in the indifference curve analysis of consumer dema
would a rational producer be concerned with the average or marginal product of an input in dec
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