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Modern Economics approach, Microeconomics
what does General Equilibrium in consumption means?
Posted Date: 3/12/2013 2:14:34 AM | Location :
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Properly mixed strategy, A " properly mixed strategy " means a mixed strate...
A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo
#titlwhat is the second best?, what is the second best?prove the theorem wi...
what is the second best?prove the theorem with the help of a diagram?
Market economy, what is market economy and how it solve the central problem...
what is market economy and how it solve the central problem
What is derived demand, The demand for every productive resources is a deri...
The demand for every productive resources is a derived demand. By derived demand it is meant that it is the output of the resource and not the resource itself for which is a deman
Depreciation, Depreciation: This signifies the loss of value from an existi...
Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery
The supply curve , The Supply Curve – The supply curve exhibits how mu...
The Supply Curve – The supply curve exhibits how much of a good manufacturerss are willing to sell at a particular given price, holding constant other factors that can aff
Capitalism, what to produce of capitalism
what to produce of capitalism
Average total cost, Average Total Cost (ATC): ATC is the total cost per uni...
Average Total Cost (ATC): ATC is the total cost per unit of output. ATC = TC/y = (TFC + TVC)/y = AFC +AVC ATC falls sharply at the beginning of the production process because
Unitary method, shows teh steps in unitary mehod
shows teh steps in unitary mehod
Capital intensive operations, Where minimum efficient scale is very huge fo...
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
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