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how do I explain the hicksian and slutsky theory of consumer behaviour in an examination
1. Cost minimizing firms must be profit maximizing as well. False, why??
excess reserve make a bank less vulnerable to runs.why
Marginal revenue: Marginal revenue is the change in total revenue with respect to a change in quantity sold. That is, it is the change in total revenue that results from the s
The Long-Run Behavior of Natural Resource Prices Observations – Exhaustion of copper has increased by a hundred fold from 1880 through 1998 signifying a large increase in
Mathematical representation - Inflation Unemployment Trade-off : Suppose that firms correctly perceive the state of demand in the economy and the rate of price inflation. The
THEORY OF REVEALED PREFERENCE: If consumer's taste and preferences do not change, then observation of her market behaviour or, actual act of choice between the commodity sets
Q=2h find the marginal point. where q is the quantity of electricity in MW-h and h is the amount of water (in 100s of liters per hour)
On what kind of income is our taxing system based?
What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss
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