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A consumer purchases food (X) and clothing (Y). Her utility function is given by: , income is $100 and the price of food is $1 and the price of clothing is Py.
a. Derive the equation for the consumer's demand function for clothing.(15 marks)
b. Are X and Y normal goods?
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
Q. Can you explain Cost benefit analysis? A term used to explain analysis, which seeks to quantify in money terms as many of the costs and benefits of a policy or project as po
Explain about the term cost function. Cost Functions This function measures the minimum cost of producing a specified level of output for some fixed factor prices. Likewise
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brife note on demand
Energies of the diametric molecules of a gas, chemistry assignments The analysis basis for treating these different types of motion can be seen by describing the motion of a di
An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t
IS Mn3O4 basic or amphoteric.
What are the basis for International Trade?
short run equilibrium of the industry
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