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Explain about the integrability problem.
The Integrability Problem:
Provide a system of demand functions x(p, m). Is there essentially a utility function by which such demand functions can be derived? That question is termed as the integrability problem. This problem can be solving by a differential equation and integrating back, eventually to the utility function. The Slutsky matrix plays a important role into this process.
brief explain of keynesian consumption theory
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Austrian economics is a brand of neo-classical economics that was established in Vienna during the late 19th century & first half of the 20th century. Austrian economics was strong
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