## second best theory, Microeconomics

Assignment Help:
what is the Theory of second best? Prove the theorem with the help of digram

#### What is fait money, Fiat money is what is regular in modern economic system...

Fiat money is what is regular in modern economic systems.  Fiat money is money that is described as legal tender by either a government or some organization with the authority to e

#### Property & contracts, Analyze the various ways in which property rights enc...

Analyze the various ways in which property rights encourage economic development and make at least one recommendation for improving current laws. Explain your rationale.

#### Average fixed cost, Average Fixed Cost (AFC): AFC is the fixed cost per uni...

Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore

#### Consumption function, to prepared a projects

to prepared a projects

#### Consumer surplus, consumer choice involving risk

consumer choice involving risk

#### Chamberlins model, lung run eqiulibrium

lung run eqiulibrium

#### Describe stabilisation policies as by the imf, Describe stabilisation polic...

Describe stabilisation policies as by the International Monetary Fund (IMF). Define stabilisation policies as basically a list of demands set forward by the IMF to a debtor nat

#### Least cost determination, how do i use the grid technique to determine the ...

how do i use the grid technique to determine the least cost

#### Arc elasticity of demand, Arc Elasticity of Demand - Arc elasticity cal...

Arc Elasticity of Demand - Arc elasticity calculates elasticity over the range of prices  - The formula of it is: *  Arc Elasticity of Demand: An Example

#### Neoclassical economics, In neoclassical economics, equilibrium exists when ...

In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every