A consumer has utility function given by : u{x1,x2} = min {2x1+x2, x1+2x2}. Given income m = 100, prices p1 = 20, p2 = 30, the amount of x1 in...
Consider A’s utility function to be U(x,y)=(min{X,Y})1/2, the price of good X is Rs.2 and price of good Y is Rs.1. Calculate the total Util...
Which of the following is correct regarding long run cost
The marginal cost of production is MC=0.3x+4, determine the cost involved to increase production from 70 to 100 units.
Suppose that the exchange rate of the Indian rupee appreciates by 10 per cent relative to the currencies of India’s trading partners. Over the same pe...
In an economy, S=-100+0.6Y is the saving function. If investment expenditure is 1100. Calculate consumption expenditure at equilibrium level of nationa...
Which of the following is a case of the principal-agent problem?
Type II error occurs when
Which of the following is not correct?
A perfectly competitive firm was given, P = 60 and TC = Q2 + 8Q + 10. Now price decreases to 54, what is the change in profit?