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Explain about the optimal consumption rule.
The optimal consumption rule:
While a consumer maximizes utility, the marginal utility per dollar spent should be similar for all goods and services into the consumption bundle.
MUC/PC = MUP/PP
define cost its types with curves
Arbitration The use of a third party to describe between two sides dead locked in a negotiation. The arbitrator's decision can be binding or not binding, as before agreed upon
Jane receives utility from days spent travelling on vacation domestically(D) and days
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what do you understand by production posibility curve?
1. Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubl
chemistry assignments , Neutron diffraction supplements x-ray diffraction and is particularly helpful in locating hydrogen atoms. An x-ray beam is scattered primarily as a result
Q. Describe the Theory of effective demand ? Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It eluc
price elasticity of demand any 2 commodities
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