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characteristics of microeconomics
Posted Date: 6/3/2013 5:20:06 AM | Location : South Africa
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Find the marginal utilities, An individual derives utility from consuming g...
An individual derives utility from consuming goods X and Y according to the following estimated utility function U = 12X 2/3 Y ¼ X and Y are quantities (units) of
State the difference between indifference curve and isoquant, What is the d...
What is the difference between indifference curve and isoquants? An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Ind
Profit maximisattion, argument against in favour of traditonel theory prof...
argument against in favour of traditonel theory profit maximisation
Equilibrium, what is pooling equilibrium
what is pooling equilibrium
Demand function, Demand Function The function capturing the dependent ...
Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product
Theory of customs union, THEORY OF CUSTOMS UNION: A customs union is a...
THEORY OF CUSTOMS UNION: A customs union is an association of two or more countries to encourage trade. The countries making such an arrangement agree to eliminate tariffs and
SAC and LAC, What is the explanation for SAC to be tangent to LAC?(In other...
What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?
Theory of second best, what is the theory of second best? prove the theorem...
what is the theory of second best? prove the theorem with the help of a diagram.
Determination of exchange rates, DETERMINATION OF EXCHANGE RATES: When...
DETERMINATION OF EXCHANGE RATES: When we study the determinants of exchange rates, we must distinguish between long run determinants and short run because the determinants in
Modern Economics approach, what does General Equilibrium in consumption mea...
what does General Equilibrium in consumption means?
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