## economic theory, Microeconomics

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How economic theory explain optimum pattern of consumption for an individual consumer

#### Factor markets, A firm in a perfectly competitive product market takes the ...

A firm in a perfectly competitive product market takes the price of the product as given. Similarly, a firm in a perfectly competitive factor market takes the price of the factor

#### Slustky equation, how slustky equation provides neat analytical expression ...

how slustky equation provides neat analytical expression for substitution and income effect?

#### Economic cycle, Economic Cycle The economic cycle is the long-standing...

Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica

#### Compensared demand function, What are the properties of compensared demand ...

What are the properties of compensared demand function

#### Fit a simple linear regression model to the data, 1. Refer to the data in t...

1. Refer to the data in the file "asm2Q1.xls" on the annual number of fatalities (FATALS, y ) from gas and dust explosion in coal mines for the years 1915 to 1978 and the number o

#### Demand curve for a consumer for coffee, Suppose the demand curve for a cons...

Suppose the demand curve for a consumer for coffee is: Q = 6 – 2P, where Q represents the number of cups per day and P is the price of coffee per cup.   Question: Suppose the

#### Indifference curve, Jane receives utility from days spent travelling on vac...

Jane receives utility from days spent travelling on vacation domestically(D) and days

#### Average product of a factor - short period analysis, Average Product (AP) o...

Average Product (AP) of a Factor: The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions,

#### Slutskian approach, description of slutskian approach

description of slutskian approach

#### Special drawing rights, Special Drawing Rights: SDRs are entitlement g...

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

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