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• Budget constraint, budget line, budget set, Budget constraint is a very important concept in economics and is utilized even in advanced economic theory. Let the competent tutors at Expertsmind guide you in understanding the concept thoroughly. Try the online tutoring and homework help provided by them.
• Utility Function., Marginal Utility (MU)
• Choice of Consumer: The objective of the consumer is to find the most preferred bundle which is affordable. That is, to find the commodity bundle with the highest utility within the budget set.
what are functions of management
Costs of Economic Growth (Increase in National Income) 1. People living in industrial towns suffer from the effects of a polluted atmosphere. 2. The manufacture of
INSTRUMENTS OF CREDIT CONTROL The central bank employs several instruments to control aggregate credit in the country. While some instruments like the open market operations mi
State the types of demand elasticity Income Elasticity: Elasticity of demand with respect to change in consumer's income. Price Expectation Elasticity of Demand: Elast
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output. The firm, Though, faces an upward-sloped labor supply curve of E= 20w-120 W
what is segmentation
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
Individual and market demand schedule The plan of the possible quantities that will be demanded at different prices by an individual is called Individual demand schedule. Su
SOME DIFFICULTIES IN MEASURING NATIONAL INCOME National Income Accounting is beset with several difficulties. These are: a. What goods and services to include A
Q. Construction of the causal model - regression analysis? The construction of an explanatory model is a crucial step in the regression analysis. It should be defined with refe
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