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The Objective Probability - 100 explorations out of which 25 successes and 75 failures - Probability (Pr) of success = 1/4 and probability of failure = ¾ Given: -
Sita expects her future earnings to be worth Rs. 100. If she falls ill, her expected future earning will be Rs. 25. There is a belief that she may fall ill with probability of , -
assignment on consumer equilibrium
2 i) Explain what are the key assumptions by the welfarist approach. ii) Define and discuss the properties of a Generalized Utilitarian social welfare function and represent it
If we have two products, A and B, which are substitutes, we can expect that a rise in the price of A (or B) will cause the demand for B (or A) to go up.” Examine this statement wit
Q. What do you meant by Progressive Tax? Progressive Tax:Tax is considered progressive if a larger proportionate share of its total burden falls on individual'swith higher avera
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
Cost Push or Supply Inflation: It is a situation where the process of increasing price level is caused by increasing costs of production which push up prices. Cost push infla
Q. Describe Consumer Price Index? Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purc
Privatisation in the narrow sense can take several forms: a) Total Denationalisation: This implies complete transfer of ownership of apublic enterprise to private hands. Some
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