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Illustrate the content in the rational consumer?
Content in the rational consumer:
a. How to spend income onto goods and services?
b. Why maximizing usefulness?
c. Why the principle of diminishing marginal utility applies to the consumption of most goods and services?
d. How to utilize marginal analysis to determine the optimal consumption bundle?
e. How decisions by individual consumers provide rise to the market demand curve
f. Income and substitution consequences
g. For a tax imposed while demand or supply, or both, is inelastic will cause a comparatively small reduce in quantity transacted and a small deadweight loss.
Distinguish between the terms of trade and the balance of trade. Basic explanation of the terms of trade as the average price of exports in relation to the average price of imp
Partial Input Elasticity of Output: This is a short-run concept which deals with the variability of only one factor keeping the others constant. There are three kinds of retu
Using a demand and supply diagram,analyse the effect on the market for Ghanaian football shirts. a. A fall in incomes in Ghana and neighboring countries
Assume the United States exports 1000 computers at a price of $3000 each and imports 15 UK autos at a price of 10000 pounds each. Assume that the dollar/pound exchange rate is $2 p
what is the theory of second best? prove the theorem with the help of a diagram.
a) Collect costs, revenue data, or other data from the industry that you deem relevant. Describe how you would modify the data in order to make it relevant to decisions a manager m
determinate equilibrium price and quantity. if Qd=7-1/2p AND Qs=1/4P-1/2
how advertisement affects the sales revenue of a firm ?
ahmed has 500 dolars.asma has 700 dolars.cismaan has 800 dolar
discuss the revealed preference theory of consumer behaviour
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