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What is the difference between indifference curve and isoquants?
An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Indifference curve shows behavior of a consumer in consumption. An isoquant shows dissimilar combinations of factors of production which a firm can employ. Isoquant shows behavior of a firm in production.
Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen
Visit to a village panchayat for agriculture based project
What are the parts of valuable economics paper? The consequence of economics research is an economic conclusion. Usually a valuable economics paper comprises three parts: a.
•Create a demand schedule and a supply schedule for your product.. •Using these schedules, draw a demand curve and a supply curve using PowerPoint or Excel. Use these to determine
ive been asked to compare shapes of graphs e.g. constant slopes increasing, decreasing, inelastc using the concepts of marginal and average changes?
Derivation of compensated demand curve: Hicksian compensated demand function for x 1 is given by x 1 =x 1 (p 1 , p 2 , U), where Hicksian compensated demand curve for a good
PARALLEL ECONOMY: What is in popular parlance known as black money, and is, misleadingly called the 'parallel' economy, (as it operates very much with and within the legal, fo
williomson''s model of managerial discretion
Environmental economics goes back to the 19th century. Economists who research the planet are mainly worried with the idea of externalities, rare organic sources, and with the pro
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
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