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A consumer purchases food (X) and clothing (Y). Her utility function is given by: , income is $100 and the price of food is $1 and the price of clothing is Py. a. Derive the equ
Using tools of indifference curve, highlight on consumption in business economics.
How we constract the cost structure of firms
Inductive effect
the short run can be defined as any period of time
What is Cost Push Inflation Cost Push Inflation : When a cost of production (e.g. wages) enhances and firms put up prices to maintain profits. Cost increases may occur beca
How much would the price of Good Z (Pz) have to change in order to increase the consumption of Good C by twenty five percent (25%)?
Average product and marginal product: Average product (AP) is the output per unit of the variable factor employed. In other words, it is the productivity of the variable facto
Q. What do you meant by Enclosures? Enclosures: A historic process in Britain and other European countries, in very early years of capitalism, in that lands formerly held and u
Q. What is Benefits transfer? The process of transferring benefit estimates from past valuation studies to the present study, in order to reduce appraisal costs. The validity
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