Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
What is optimal choice of consumer according to consumer behavior?
Consumer's Optimal Choice:
In the fundamental problem of preference maximization, the set of affordable options is just the set of all bundles which satisfy the consumer's budget constraint. It is the problem of preference maximization can be illustrated as:
max u(x)
as like px < m
x is in X.
There will existence a solution to such problem when the utility function is continuous and which the constraint set is bounded and closed.
The constraint set is exactly closed. When pi > 0 for i = 1, ..., k and m > 0, this is not complicated to demonstrate that the constraint set will be bounded. When some price is zero, the consumer might wish for an infinite amount of the equivalent good.
Assume you see that two macroeconomic variables are correlated with each other. But you want to know if there's an underlying or causal relationship between the two variables. Wo
Explain the approach of characterizing the modern economic environment. Modern economics gives various perspectives or angles to seem at real world economic issues. An economic
TRENDS OF NATIONAL INCOME: Estimates relating to India's national income and per capita income are available to us for each of the years beginning 1950-51. These estimates are
please can you explainn what "down 0.1 percentage point on the quarter means"?
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
law of diminishing marginal utility its assumptions, limitation, and its practical importance
The reaction of nitrogen dioxide with fluorine 2 NO2 + F2 2 NO2F is first order in NO2 and first order in F2. Complete the rate law for this reaction in the box below. Use the f
When is tax to society cause a deadweight loss? Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax A tax causes a deadweight loss to society, since les
Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th
Give a critique of indifference curve
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd