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Dynamic Changes in Costs: The Learning Curve
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
The Industry's Long-Run Supply Curve * Long-Run Elasticity of Supply 1) Constant-cost industry Long run supply is horizontal Small increase in price will induc
Graphical Representation of Various Returns: Diminishing Returns: If the TP curve is as shown in the adjacent Figure, then the MPL given by tanθ is throughout less than the A
Type of total outlay
1. Suppose that Mr. John has the following Cobb-Douglas utility function U = 6X^2/3y^1/3 the market price of X and Y commodity are $1 and $2, respe
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#. The following information applies to the market for a particular items in the absence of a unit excise tax: Price($ per unit) Quantity Supplied Quantity Demanded 4 50
what is the theory of second best? prove the theorem with the help of a diagram.
1- a- What are the five components of a time series? b- Briefly explain how you would estimate each component. c- What does deterministc trend mean? How do you detren
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