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Economic instruments Financial rewards, incentives and penalties that operate automatically via market forces, to encourage beneficial behavior.
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Why firm charges different prices to different consumer? Every firm needs to maximize its profit. When goods are sold to different customers, each customer negotiate price of
assignment
what is the homogeinity of demand function wrt prices and income
In an updated GDP that contains household production, how would the purchase of a car or appliance for household use be treated? A car or appliance would be treated as a househ
The cross elasticity of demand calculates the responsiveness of the quantity demanded of one product to alters in the price of another product. For example, the quantity demanded
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
What are the economies and diseconomics of scale?
How does an increase in the size of a future payment affect the present value of a future payment
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