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Illustrate the content in the rational consumer?
Content in the rational consumer:
a. How to spend income onto goods and services?
b. Why maximizing usefulness?
c. Why the principle of diminishing marginal utility applies to the consumption of most goods and services?
d. How to utilize marginal analysis to determine the optimal consumption bundle?
e. How decisions by individual consumers provide rise to the market demand curve
f. Income and substitution consequences
g. For a tax imposed while demand or supply, or both, is inelastic will cause a comparatively small reduce in quantity transacted and a small deadweight loss.
Igora''s pizzeria want to know if it should stay open this spring. Total Revenue will be $ 12,000 per week and Total Cost will be $ 18,000 per week. The fixed cost of running the b
John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
suppose your opponent is not playing her nash equilibrium strategy. Should you play nash equilibrium strategy?k question #Minimum 100 words accepted#
What is return on investment? Return on investment is the profit earned by investing in some business or some project, for instance investment in stock exchange. Profit earned
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Slutsky's Theorem: Graphical Presentation We prove here that own price effect is the sum of own substitution effect and income effect for a price change, which is known
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Q. Define Contribution Pensions? Defined Contribution Pensions: A pension plan which makes no specified promise about level of pension paid out after retirement. In its place,
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