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What are the properties of consumer demand?
Properties of Consumer Demand:In this section check the comparative statics of consumer demand behaviour as: how the demand of consumer changes as prices and income vary.
a. Income Changes and Consumption Choice
b. Price Changes and Consumption Choice
c. Income-Substitution Effect: The Slutsky Equation
What is black marketing? Black Marketing means hoarding of sure commodity to sell it at higher prices. But it is an illegal activity in the economy and makes artificial shorta
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In the context of managerial economics how do you explain a rational producer. Illustrate giving example covering different dimention.
In the diagrams related to bandwagon effect, why do we say when the price is 30$ the demand is 40?
1. Let's get some practice plotting budget constraints. On the graph below, plot the budget constraints when: a. (Use Black): P x = 57,P y = 18, and M = 342. b. (Use Blue):
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Perfect competition and monopoly are rarely found in the real world and thus they do not represent, for the most part, the actual market situations. Therefore, the conclusions whic
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