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- What are the similarities and differences between consumer behavior and production theory?(Solved)
What are the similarities and differences between consumer behavior and production theory?
Date posted: March 6, 2019. Answers (1)
- What is the definition of production concept?(Solved)
What is the definition of production concept?
Date posted: March 6, 2019. Answers (1)
- Describe the distinction between substitution and income effect in the case of normal, inferior and giffen goods(Solved)
Describe the distinction between substitution and income effect in the case of normal, inferior and giffen goods
Date posted: March 6, 2019. Answers (1)
- Describe the changes in the budget line.(Solved)
Describe the changes in the budget line.
Date posted: March 6, 2019. Answers (1)
- Describe the budget constraint(line) of the consumer(Solved)
Describe the budget constraint(line) of the consumer
Date posted: March 6, 2019. Answers (1)
- Illustrate derivation of the equilibrium condition for the consumer(Solved)
Illustrate derivation of the equilibrium condition for the consumer
Date posted: March 6, 2019. Answers (1)
- What are the assumptions(Axiom) under cardinalist utility approach in economics?(Solved)
What are the assumptions(Axiom) under cardinalist utility approach in economics?
Date posted: March 6, 2019. Answers (1)
- Illustrate and explain the cardinalist theory of consumer behavior(Solved)
Illustrate and explain the cardinalist theory of consumer behavior
Date posted: March 6, 2019. Answers (1)
- Explain the following:
1. Income Elasticity of Demand
2. Cross elasticity of Demand(Solved)
Explain the following:
1. Income Elasticity of Demand
2. Cross elasticity of Demand
Date posted: March 6, 2019. Answers (1)
- What are the weaknesses of Cobweb Theory?(Solved)
What are the weaknesses of Cobweb Theory?
Date posted: March 6, 2019. Answers (1)
- How is disequilibrium concept applied?(Solved)
How is disequilibrium concept applied?
Date posted: March 6, 2019. Answers (1)
- What are the effects of shifts of demand/supply curve on equilibrium?(Solved)
What are the effects of shifts of demand/supply curve on equilibrium?
Date posted: March 6, 2019. Answers (1)
- Given the following
Demand function: Qd = 3550 - 266p
Supply function: Qs = 1526 + 240p
Determine the equilibrium market price and quantity.(Solved)
Given the following
Demand function: Qd = 3550 - 266p
Supply function: Qs = 1526 + 240p
Determine the equilibrium market price and quantity.
Date posted: March 6, 2019. Answers (1)
- Explain the abnormal supply curves(Solved)
Explain the abnormal supply curves
Date posted: March 6, 2019. Answers (1)
- State and explain the factors that influence demand(Solved)
State and explain the factors that influence demand
Date posted: March 6, 2019. Answers (1)
- State and explain the two exception to the law of demand(Solved)
State and explain the two exception to the law of demand
Date posted: March 6, 2019. Answers (1)
- State the factors that influence the quantity demanded(Solved)
State the factors that influence the quantity demanded
Date posted: March 6, 2019. Answers (1)
- Define the following terms:
1. Demand Schedule
2. Demand diagrams(Solved)
Define the following terms:
1. Demand Schedule
2. Demand diagrams
Date posted: March 6, 2019. Answers (1)
- Elaborate on The nature and scope of economics.(Solved)
Elaborate on The nature and scope of economics.
Date posted: March 6, 2019. Answers (1)
- Explain the concept of scarcity and opportunity cost.(Solved)
Explain the concept of scarcity and opportunity cost.
Date posted: March 6, 2019. Answers (1)