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The marginal rate of substitution (MRS) quantifies the quantity of one good a consumer will sacrifice to get more of the other good. – It is calculated by the slope of the indif
using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically
What is Economic Depreciation?
how can a consumer get maximum Equlbrim
GOVERNMENT FINANCE: UNION AND STATES: The fiscal position of the Governments - both Centre and States - has been under stress since the mid-1980s. The stress stems from the i
which is the following is an example of a firm''s derived demand?
What is the Macroeconomics? Macroeconomics is study about the aggregate behavior of the economy like how the actions of all the individuals and firms within the economy intera
What is the resultant pressure if 2.7 mol of ideal gas at 273 K and 2.51 atm in a closed container of constant volume is heated to 399 K
Question 1: (a) Clearly illustrate the features of a perfectly competitive firm. (b) How would the same industry change if it were organized first as a competitive industr
Explain the meaning of the statment "coffee and tea are close substitutes".
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