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Economics and Ethics : Morality and ethics are powerful motivations to behavior. Thouh, economists suppose that rationality is a function of demonstrable self-interest. That means, material well-being B greed if you will. The acceleration of corporate scandals by the early part of this century seems to suggest a disregard for issues other than material well-being by lot of people who were in positions of authority in various major companies (Enron, Worldcom, Tyco etc.) Self-interest when measured purely in dollars and cents will often give rise to unethical, immoral, and perhaps even illegal conduct.
Risk Neutral - A person is a risk neutral if they show no preference between certain, and an uncertain income with the same expected value.
What was the price index for 2008, 2009 and 2010?
different types of production funtion and curve given by different economist
Change in consumer Taste/preference: Any change in consumer taste or preference causes demand to change. Increased taste or preference for a particular good causes demand to inc
an introduction
explain and illustrate the changing demand for big mac using indefference curve and budget line
what is the theory of second best? prove the theorem with the help of a diagram.
a) Explain the perverse incentive. b) What makes the incentive perverse? c) How could the incentive makers better the incentive?
TC = Q3 – 8Q2 + 68Q + 4, get the median and mode
if a commodity has limited demand , should economist say that we still have a scarcity ?
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