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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?
Lag Length criteria VAR Lag Order Selection Criteria Endogenous variables: OIL EXCH R RPI LUNEMP GDP
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full overview as-ad model
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production function
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