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1. What is law of diminishing marginal utility?
2. Find out the marginal utility for the following schedule of consuming pizza
Pizza consumed
0
1
2
3
4
5
6
7
Total Utility
20
28
34
38
40
3. Explain briefly the Utility maximizing Rule.
4. How the demand curve can be derived from the utility Maximizing Rule?
5. What is income and substitution effect?
Some equipment that costs $1000.00 has a 5-year depreciable life and an estimated $50 salvage value at the end of time. Determine whether to use straight-line or SOYD depreciation.
Researchers have put forth various theories to explain the observed widening of the income distribution in the United States over the past four decades. First, there has been a sh
Index number formulas
using a classical labour market , illustrate the effects of a real wage existing in the market that is lower than the equilibrium real wage. what will eventually happen in this lab
what cause keynesian unemployment?
"Consumption" is an old name for tuberculosis (TB) that explains how the illness wastes away or consumes its victims. TB is "an ancient enemy" that has plagued human kind for more
If Country A had four times the initial level of real GDP per capita of Country B and it was growing at 1.4 percent a year, while real GDP was growing at 2.3 percent in Country B,
Suppose that the yield curve is flat at 5% per annum with continuous compounding. A swap with a notional principal of $100 million in which 6% is received and six-month LIBOR is pa
Rational Expectations School Expectations on the future values of economic variables play an important role in macroeconomic analysis and economic analysis in general. Because
importance and limitation of principle of acceleration
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