Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Individual Demand
Substitutes and Complements
1) The two goods are considered substitutes if an increase (decrease) in price of one lead to an increase (decrease) in quantity demanded of other.
2) Two goods are considered complements if an increase (decrease) in price of one leads to a decrease (increase) in quantity demanded of other.
3) Two goods are independent when change in price of one good has no effect on the quantity demanded of the other
-If the price consumption curve is sloping downward, the two goods are considered substitutes.
-If price consumption curve is sloping upward, the two goods are considered complements.
*They could be both!
Nature of Expectations in Keynes' Theory : The above discussion on the nature of expectations in Keynes' theory may be summarised as follows: 1) In forming long-term expec
World Trade Organization: An international economic organization based in Geneva, Switzerland,formed in 1995 which is dedicated to promoting greater trade and investment among its
discuss whether marginal utility is a realistic piece of economic analysis in explaining consumer demand
Imagine a country where plane and train services between two main cities are both provided by private companies, and, from a consumer perspective these services are viewed as subst
What are the advantages and disadvantages of monopsony?
explain stages and various coordination mechanism involved in policy process
Define Disposable Incomeand dumping Disposable Income : The amount of income left after as deductions as income tax, pension contributions and national insurance. More genera
how do I explain the hicksian and slutsky theory of consumer behaviour in an examination
comparing GDP between indonesia and haiti
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd