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THEORY OF CONSUMER BEHAVIOR: It is generally observed that market aggregate demand curve for a commodity is downward sloping, given other things. Our problem is to investigate
how do I explain the hicksian and slutsky theory of consumer behaviour in an examination
What is the expected profit?
Neoliberalism So much thinking about the proper role of government in economic growth over the past 2 decades has tends to conclusions which are today known as neo-liberal. The
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benef
would a rational producer be concerned with the average or marginal product of an input in dec
Cost in the Short Run Marginal Cost (or MC) is the cost of expanding output by one unit. As fixed costs have no impact on marginal cost, it can be given as: Average Total
For the pizza seller whose marginal, average variable, and average total cost curves are shown in the graph below, what is the profit-maximizing level of output and how much profit
Productivity:Generally, productivity measures efficiency or effectiveness of productive effort. Productivity can be measured in several different ways. Physical productivity measur
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