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As a consumer increases the consumption of any one commodity, marginal utility of the variable commodity must eventually decline."Illustrate the statement.
Illustrate law of demand .Give reasons demand curve sloping downward?
What is elasticity of demand .How can it be calculated?
Illustrate law of substitution. Give its importance in economics?
What are the differences between the IS-LM model and the Keynesian model? The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium i
Jane receives utility from days spent travelling on vacation domestically(D) and days
What are subsidies? Almost in all market systems, government plays its role to stabilize the price of certain commodities, which are of public interest like medicines and edib
Consider a two-period economy with a single commodity (say leisure): x1 is the con- sumption of leisure in period 1, and x2 is the consumption of leisure in period 2. When Peter ev
Strictly give the diff. btw the theory of reciprocal demand & theory of comparative advantage
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Plot the demand schedule and draw the demand curve for the data given for Marijuana
You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did your
Neutrality: Bureaucracy is apolitical and neutral. Prof. Frocderich mentions the following features of bureaucracy: (i) differentiation of functions, (ii) qualifications for o
Mr. Smith can cause an accident, which entails a monetary loss of $1000 to Ms. Adams. The likelihood of the accident depends on the precaution decisions by both individuals. Spe
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