Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
What is optimal choice of consumer according to consumer behavior?
Consumer's Optimal Choice:
In the fundamental problem of preference maximization, the set of affordable options is just the set of all bundles which satisfy the consumer's budget constraint. It is the problem of preference maximization can be illustrated as:
max u(x)
as like px < m
x is in X.
There will existence a solution to such problem when the utility function is continuous and which the constraint set is bounded and closed.
The constraint set is exactly closed. When pi > 0 for i = 1, ..., k and m > 0, this is not complicated to demonstrate that the constraint set will be bounded. When some price is zero, the consumer might wish for an infinite amount of the equivalent good.
Question : (a) Suppose Firm A is a perfectly competitive firm producing good X and faces the following average revenue and average cost Average Revenue: P = 10 Average Co
How have economists traditionally defined "economic growth," and how is that different from "living standards growth"? Economists have traditionally explained economic growth
1. Calculate the required reserve ratio. 2. Assume that Pam wants to borrow money to pay for a new car from Sharpeland Bank. a. What is the maximum amount that Sharpeland Ban
identify which curve (demand or supply) will be affected?
Comment on the current account trend since 2013 till 2015
A type of economy (like in Europe in the Middle Ages) which is primarily agricultural however productive enough to support a class of merchants andartisans. Feudal societies are co
Ask question #Minim1. what items should be put on the agenda of a new round of trade talks (and who wants these on the agenda), 2. why, and 3. the problems likely to be met in the
discuss the revealed preference theory of consumer behaviour
Wealth: This is a stock of accumulated purchasing power stored up from the past. For example, if you have a fat savings account accumulated from your past earnings, your curre
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd