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How has the Haberler''s theory of opportunity cost an improvement over the classical theory of trade
The availability of credit and hire purchase facility tends to push up the demand for consumer durables. In India for consumer durables lie Refrigerators television scooters etc, h
The Industrial Revolution The century after 1750, saw the industrial revolution proper: invention of steam engine, spinning jenny, power loom, hydraulic press, railroad locomot
Suppose that a firm’s production function is given by Q=30L-3L2, where L is labor input and Q is the output. a) Derive and draw the firm’s demand for labor while the firm’s produc
Question 1: (a) Describe the different forms that foreign aid may take. (b) Does foreign aid lead to economic growth? Discuss. Question 2: (a) Distinguish between ec
what are the solutions to cost push inflation
Explain about the duality between direct and indirect utility. Duality between Direct and Indirect Utility: While seen how one can recover an indirect utility function by ob
(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of
Differentiate between inflation and unemployment. Inflation is an increase in the general price level that results in a decline in the purchasing power of money. In economics,
What do you mean by Consumption Set? Consumption Set: We notice a consumer faced along with possible consumption bundles within consumption set X. We generally assume that X
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