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Define the individual consumer surplus and total producer surplus.
Individual consumer:
Individual consumer surplus is the net profit to an individual buyer through the purchase of a good. This is equal to the dissimilarity between the buyer’s willingness to pay and the price paid.
Total producer surplus:
Total producer surplus into a market is the net of the individual producer surpluses of each the sellers of a good.
Marginal Propensity to save (MPS) is the ratio of change in total saving to change in total disposable income. Symbolically, MPS = ?S/?Y For example, total
discuss mec
how to maintain equilibrium gdp in foreign trade
The production function is Q=3LK
The rate of interest in the UK also showed very interesting results, to an impulse shock on oil price. The middle left graph from Fig 4.4 shows the results. Initially, in the short
Examine the pros and cons of commercial transactions in blood from the egoistic, the utilitarian, and the Kantian perspectives
y=c+c1(y-t0-t1y,r)+i+g
detail givn the transaction demand
After a competitive bidding process, Firm G wins a contract to collect and dispose of Firm H's hazardous waste for $1,000 per year. Firm G's labor costs are $200 per year, and beca
the whole explanation of dpd
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