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- Elaborate the choice of optimal combination of factors of production(Equilibrium of the firm)(Solved)
Elaborate the choice of optimal combination of factors of production(Equilibrium of the firm)
Date posted: March 7, 2019. Answers (1)
- Show the homogeneity of production function in relation to returns to scale(Solved)
Show the homogeneity of production function in relation to returns to scale
Date posted: March 7, 2019. Answers (1)
- Explain the law of "return to scale"(Solved)
Explain the law of "return to scale"
Date posted: March 7, 2019. Answers (1)
- Prove that relevant range of production is in the section of the isoquant which is negatively sloped and convex(Solved)
Prove that relevant range of production is in the section of the isoquant which is negatively sloped and convex
Date posted: March 7, 2019. Answers (1)
- Define the isoquant analysis(Solved)
Define the isoquant analysis
Date posted: March 6, 2019. Answers (1)
- State and explain the types of production curves(Solved)
State and explain the types of production curves
Date posted: March 6, 2019. Answers (1)
- 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)