Explain about the determination of equilibria, Microeconomics

Explain about the determination of equilibria.

Determination of Equilibria:

The fourth step for studying an economic step is to make trade-off choices and find out the best one. Once specified an economic institutional arrangement, environment and other constraints, as like technical, resource, and budget constraints, individuals will react, depend onto their incentives and own behavior, and decided an outcome from between the available or feasible outcomes. This state is termed as equilibrium and the outcome an equilibrium outcome. It is the most common description an economic “equilibrium”.

Posted Date: 9/7/2013 5:46:23 AM | Location : United States

Related Discussions:- Explain about the determination of equilibria, Assignment Help, Ask Question on Explain about the determination of equilibria, Get Answer, Expert's Help, Explain about the determination of equilibria Discussions

Write discussion on Explain about the determination of equilibria
Your posts are moderated
Related Questions
a)  Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20

please may you explain this concept

to what extent are interest rates determined by the economic theory

what is The most important source of oligopoly?

would a rational producer be concerned with the average or marginal product of an input in dec

Capital Gain: A capital gain is a form of profit which is earned on an investment by re-selling an asset for more than it cost to buy. Assets that can be purchased for this purpose

why can methane not be prepared by this reaction

Double Jeopardy A condition where an entrepreneur's main source of income and net worth depend on the entrepreneur's organization.

Modern economy: It explored the role of money in every modern economy.The chapter also revealed that it is necessary for the government to ensure consistency between the quant

How has the haberler''s theory of opportunity cost been an improvement over the classical theory of trade