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Explain about the optimal consumption rule. The optimal consumption rule: While a consumer maximizes utility, the marginal utility per dollar spent should be similar for all
characteristic of duopoly
discuss how economic theory of marginal utility explains the optimum pattern of consumption for an individual consumer
relationship between total utilities and marginal utilities
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unemployment is voluntary, discuss in view of the classical economists and the keynesian
Consider a non-renewable resource. There are two periods, now and later. The demand curve in each period (t = 1, 2) is Qt = 10 - Pt. The stock of the resource is 10 units. Extracti
Indifference curve definition
price falls and demand is elstic
Suppose a firm faces two markets for the same product. In market A, the demand function is PA=60-QA, while in market B the demand function is PB=36-0.5QB. The total cost function i
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